FASTag Bank Transfer: A FASTag is a small sticker that uses RFID (radio-frequency identification) technology. It is linked to your vehicle number and connected to a prepaid wallet provided by a bank. But what if you want to change the bank linked to your FASTag? Maybe you’re unhappy with the current service or want better features.
Thanks to the improved toll system in India, switching your FASTag to another bank is now possible. It’s a simple process that ensures you can keep driving without any toll payment issues. While an offline process is available for transferring your FASTag account, this article will guide you through the online steps to help you switch your FASTag account smoothly to a new bank.
Why Individuals Transfer Their FASTag Account?
RBI Ban on Banks for FASTag Payments: The Reserve Bank of India (RBI) can ban certain banks from processing FASTag payments if they do not comply with regulatory guidelines.
Impact on FASTag Accounts: If your FASTag is linked to a bank that is banned, your FASTag account will become non-operational.
One FASTag per Vehicle Rule: As per NHAI’s “One FASTag One Vehicle” policy, each vehicle can only have one active FASTag. If multiple FASTags are purchased for the same vehicle, only the latest activated FASTag will work.
Inactive FASTag Accounts: FASTag accounts can become inactive if there is insufficient balance or if the account remains unused for a long period.
How To Transfer Your FASTag Account To Another Bank Online
Step 1: Go to the official website of the bank you want to switch to.
Step 2: Find the FASTag section, usually listed under the ‘Products’ or ‘Services’ tab.
Step 3: Fill out the application form with the required details such as your vehicle registration number, owner’s name, and contact information.
Step 4: Upload scanned copies of the necessary documents as requested.
Step 5: Make the payment using your preferred method. This will include the cost of the FASTag, a security deposit, and an initial recharge amount.
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