Reserve Bank of India (RBI) has taken strict action against Paytm Payments Bank and it will affect the users also. If you want, you can switch off your Paytm FasTag or port it to another provider.
Reserve Bank of India (RBI) has approved Paytm Payments Band Ltd. Taking strict action against it, it has been asked to stop all operations after February 29, 2024. That means after this Paytm wallet and FasTag linked to this account will no longer be useful. After this, users will be able to use their existing amount but will not be able to top up.
If you are worried about what to do after the next month, then we are going to tell you how to close the existing Paytm FasTag account or port it to another provider in easy steps. If you want to close your Paytm FasTag account, you can do so by calling 01204456456 or 18001204210. We are explaining below how to do this through the app.
How to close or port your Paytm FasTag
- First of all, open Paytm app in the phone and then tap on the search icon seen above.
- Search by writing FasTag here and then tap on the Manage FasTag option visible in the Paytm Payments Bank section.
- Now all the FasTags linked to Paytm account will be visible and whichever one you want to deactivate, you will have to tap on it.
- Now go to the bottom of the Management Options visible and tap on Help & Support.
- Need help with non-order-related queries as seen below. Tap on the option.
- On the next page select I want to close my FASTag option and select FasTag VRN.
- Now click or tap on Close FASTag button on the next page.
- Now the web browser will open and you will have to select the VRN visible on the page.
- After this the reason for closing FasTag will be asked.
- Finally you have to tap on Close FasTag.
