RBI has tightened its grip on Paytm Payment Bank. According to RBI, Paytm Payment Bank will not work after February 29. In such a situation, a new problem has arisen for Fasttag users.
The question is whether Paytm’s FASTag will work or not. According to the company, Paytm will partner with some other bank. Meanwhile, users are constantly searching on Google how to deactivate Paytm FASTag.
People are not getting the option to deacivate in the FASTag section in Paytm app. If you also want to stop Paytm’s Fasttag, then we will tell you the method.
As soon as you click on this link You will be prompted to cancel FASTag. This URL will be redirected to your Paytm app and from there you can cancel Fastag.
The security money and whatever balance there is in FASTag will be returned to you and Paytm FASTag will be closed. You can apply for another Fastag from any other bank.
You will have to pay approximately Rs 500, some of which will be security deposit while some will come in your FASTag wallet. It may take up to 7 days for the new Fasttag to reach your home.
It is worth noting that Paytm is still claiming to issue Fasttag. But as soon as you go to the new FASTag, you will get the option of HDFC Bank. That means Paytm has partnered with HDFC Bank.
If you issue Fasttag again through Paytm, it will not be from Paytm Payment Bank, but from HDFC. Paytm has not yet clarified what will happen to the existing Paytm Fastag users?
Paytm is definitely saying that an agreement is being made with another bank for Fasttag. But a big question also arises that in such a situation, will a new FASTag be issued to the people or will the existing FASTag continue to work in future also?