How to Transfer FASTag to another Bank: A Comprehensive Guide

Published on 5 Aug, 2024, 5:39 AM IST

Updated on 13 Aug, 2024, 4:57 AM IST

Team Acko Drive

5 min read

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The introduction of FASTags has indeed paced up our journey on the Indian highways. You won't have to wait in endless queues at toll plazas; with FASTag, it hardly takes a few seconds to make toll payments automatically. However, you might transfer your FASTag to another bank for various reasons. But the main question becomes, “How to transfer FASTag to another bank?” Well, we have got you covered.

In this blog, we have discussed the FASTag transfer procedure, important tips for a smooth transfer, and more. Keep reading for a step-by-step guide on the same.

Contents

Why Transfer FASTag to another Bank?

Before diving into the process of how to transfer FASTag to another bank, it is important to understand why and when you should transfer your FASTag to a different bank:

Lower Fees: As different banks have different fee structures, you might find a bank with lower service or transaction fees.
Better Customer Service: Some banks offer quick complaint resolution and overall superior customer service.
Offers and Discounts: Some banks might have discounts and cashback on toll payments.
Bank Closure: If your current bank is closing or facing severe server issues, consider switching to a different bank for uninterrupted service.

Steps to Transfer FASTag to another Bank

When it comes to transferring a FASTag account to another bank, you need to follow certain steps for a smooth operation. The key steps that you must follow in such scenarios are discussed in detail below:

Step 1: Close Your Existing FASTag Account:

In order to transfer your FASTag account to another, the first thing you need to do is to close or deactivate your existing FASTag account; here are the steps:

Utilise your FASTag balance from your existing account or request a refund.
Request for deactivation of your existing FASTag account; you can do this online by logging into the issuer’s net banking portal. You can also dial up their customer support and place a FASTag account deactivation request.
Then, remove the physical sticker from your vehicle's windshield.

Step 2: Apply for a new FASTag:

Select a FASTag issuer that fits your preference, and research and compare the benefits offered by different banks.
You can apply for a new FASTag online by logging into the issuer's mobile application and searching for FASTag.
Click on Apply Now or a similar option, and you will need to enter some of your vehicle details and personal details.
Then, simply upload the scanned copies of the required documents and validate your mobile number by entering an OTP.
Then, pay the amount for your new FASTag, which includes the security deposit and the recharge amount.

Now, you have successfully applied for a new FASTag with a new issuer, and it will be delivered to your doorstep within a couple of days.

Step 3: Affix the new FASTag sticker on your car's windshield, and you will be good to go.

Now, you can use your new FASTag to make automatic payments at toll plazas.

Tips for a Smooth Transition

Here are some key points to ensure a smooth transfer of the FASTag account:

Avoid having multiple active FASTags for a single vehicle to prevent double deductions or duplicate charges.
It’s not possible to transfer the balance from your existing FASTag to a new one. Hence, make sure to either use up the balance or request a refund before deactivating the account.
Keep your KYC details updated with the new bank to avoid any activation delays.

Bottom Line

Overall, with a clear understanding of how to transfer FASTag to another bank, you can now transfer your FASTag account to a new issuer. Following the steps mentioned above, such as deactivating your existing FASTag account, choosing a new bank, and applying for a new FASTag, can help you make a seamless transfer, which not only ensures uninterrupted travel on highways but also benefits you from lower fees, better customer service, and discounts on your recharge.

Frequently Asked Questions

Here are some of the most common questions and their answers related to Transfer FASTag to Another Bank

Can I directly transfer a FASTag from one bank to another?

The FASTag cannot be transferred directly between banks. The procedure involves closing your current FASTag account and applying for a new one with the preferred bank.

What are the documents required to Transfer FASTag to another Bank?

While transferring FASTag to another Bank, you would require several documents, such as a vehicle registration certificate, FASTag closure confirmation, and KYC documents (PAN Card, Driving Licence, or Aadhaar). Some banks also require a photograph, which you can take with your mobile camera and upload.

How do you transfer FASTag to another bank?

To transfer your FASTag to another bank, you first have to place a deactivation request with your current issuer. Once it is deactivated, you can apply for a new FASTag with your preferred bank. The new FASTag will be delivered to your registered address in a couple of days.

What are the modes of payment available for a FASTag recharge?

You can make your FASTag recharge payment through several modes, including debit cards, credit cards, UPI, and net banking.

How can I withdraw my FASTag security deposit?

The FASTag security deposit cannot be withdrawn while the account is active. Once you place a FASTag deactivation request with your issuer, the refundable security deposit will be automatically transferred to your bank account.

When I transfer, what happens to my FASTag balance?

Before cancelling your previous FASTag account, make sure you transfer the leftover amount to your connected bank account. Your bank's online or mobile banking services might be used for this.

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