How to cancel Paytm Fastag: The Reserve Bank of India (RBI) has imposed several restrictions on the payment platform Paytm including inactivation of Paytm Payments Bank Limited (PPBL), which is under investigation.
Meanwhile, the National Highways Authority of India (NHAI) has also excluded PPBL from its list of Fastag providers. After this, users will have to start Fastag service as soon as possible by choosing any one of the other 32 banks under the purview of NHAI.
Also, due to NHAI’s ‘One Vehicle, One Fastag’ rule, it has become even more necessary to discontinue Paytm Fastag.
Last month, an RBI report had highlighted allegations of non-compliance against PPBL. It has also been recommended to suspend its operations till February 29.
However, RBI later extended the suspension deadline to March 15 instead of February 29. Currently, users can use their Paytm Fastags till March 15, after which they will be automatically deactivated, and it will not be possible to recharge or top up.
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How to cancel Paytm Fastag: That is why it is important that users close their PPBL Fastag account in time and demand a refund so that the refund is ensured by Paytm within the time limit.
Remember that after one Fastag is discontinued, vehicle owners can apply for or get another Fastag.
How to cancel Paytm Fastag
How to cancel Paytm Fastag: Users can close their Paytm Fastag account through the Paytm app without any hassle. For this they have to follow the following steps:
- To close Paytm Fastag account go to your profile in your Paytm app
- Now select the option ‘Help and Support’
- Then click on Banking Services and Payments
- Then click on Fastag
- Finally to deactivate your Paytm Fastag account click on “Chat with us” option and request for deactivation.
- Additionally, users can also close their Paytm FASTag account by logging in to the Paytm FASTag portal and providing their FASTag number, registered mobile number and verification details and selecting I want to close my FASTag profile under “Help and Support” option.
These steps are aimed at guiding Paytm FASTag users in smoothly transitioning away from PPBL and ensuring compliance with regulatory changes in the FASTag ecosystem.
