Can you use Paytm FASTag after March 15?
Paytm Payments Bank Account/Wallets from accepting new deposits or allowing credit transactions. The time line for this has been extended to March 15, 2024 from February 29, 2024. After March 15, 2024, no more deposits, credit transactions, top-ups, or withdrawals will be permitted in any customer accounts, prepaid cards, wallets, FASTags, NCMC cards, etc,, as per the RBI circular.
Here is a look at what RBI’s FAQs on Paytm Payments Bank has for Paytm FASTag users.
FASTag issued by Paytm Payments Bank
Up to the sum that is available, you can keep using your FASTag to pay toll. On March 15, 2024, however, FASTags issued by Paytm Payments Bank will no longer be eligible for financing or top-ups.
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Note that the credit balance transfer feature is not available in the FASTag product. Therefore, you will have to close your old FASTag issued by Paytm Payments Bank and request the bank for a refund.
After March 15, 2024 you will not be able to top-up or recharge your FASTag issued by Paytm Payments Bank. It is suggested that you procure a new FASTag issued by another bank before March 15, 2024 to avoid any inconvenience.
Wallet with Paytm Payments Bank
You can continue to use, withdraw or transfer to another wallet or bank account upto the balance available in the wallet. Minimum KYC wallets can, however, be used only for merchant payments.
You cannot transfer the money into your Paytm Payments Bank account after March 15, 2024. However, you can withdraw your money
