How to stop Paytm Fastag? Know when the security money will come back

Paytm Fastag Deactivation Process: Paytm Fastag customers will not find a way to prime up after Friday midnight. However, they will use their present stability for toll cost even after March 15.

Paytm Fastag Deactivation Process: According to the pointers issued by the Reserve Bank of India (RBI) concerning restrictions on Paytm Payments Bank, Paytm Fastag customers will not find a way to prime up after Friday midnight. However, they will use their present stability for toll cost even after March 15. Users who need to deactivate Paytm Payments Bank Fastag can deactivate it by the Paytm app.

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For this, you will have to search by writing ‘Manage Fastag’ in the search menu of Paytm app. In the ‘Manage Fastag’ part, a listing of all the automobiles linked to Paytm Payments Bank Fastag will seem. After that, individuals have to choose ‘Close Fastag Option’ in the higher proper a part of the web page. Then they’ve to choose the car for which they need to shut Fastag.

As quickly as you click on on ‘Proceed’, a affirmation message will seem on the display screen. Fastag will be closed inside five-seven working days.

When will the security money be returned?

According to the firm, the security deposit and minimal stability relevant for PPBL Fastag will be returned to the Paytm Payments Bank pockets after closure.

The good factor is that the National Payments Corporation of India (NPCI) on Friday allowed Paytm’s mother or father firm One97 Communications Limited (OCL) to be a part of the Unified Payments Interface (UPI) as a third-party utility supplier beneath the multi-bank mannequin. Approved for.

Four banks (Axis Bank, HDFC Bank, State Bank of India, Yes Bank) will act as Payment System Provider (PSP) banks for OCL.

Meanwhile, the National Highway Authority of India has suggested Paytm Fastag customers to buy a brand new Fastag issued by every other financial institution earlier than March 15.