Here is a comprehensive guide on everything you need to know about transferring your FASTag balance.
Learn How to Transfer FASTag Balance to Bank Account
In the realm of digital payments and toll collections, FASTag has emerged as a convenient method for automating toll payments directly from the vehicle.
However, there might be occasions when you have a surplus balance in your FASTag account that you wish to transfer back to your bank account.
Whether it is due to the sale of your vehicle or simply because you have accumulated more balance than needed, knowing how to transfer your FASTag balance to a bank account is useful information for FASTag users.
Follow the below-listed steps to transfer the FASTag balance
Transferring your FASTag balance back to your bank account is possible, but the process can vary depending on the FASTag issuer.
Here is a general guide on how to initiate the transfer:
- Contact customer support: The first step is to get in touch with your FASTag issuer's customer support. This could be through their helpline, email, or customer portal.
- Request for balance transfer: Inform them of your request to transfer the FASTag balance to your bank account. You might be asked for your FASTag account details and the reason for the balance transfer.
- Submit required information: You may need to provide your bank account details, including the account number and IFSC code, where you want the balance transferred.
- Verification: The issuer will verify your request and the details provided. This process might take a few days, depending on the issuer's policy.
- Transfer initiation: Once verified, the issuer will initiate the balance transfer to your specified bank account.
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Documents required to transfer FASTag balance
The documents required for transferring your FASTag balance to a bank account typically include:
- Bank account details: Account number and IFSC code of the bank account where you want the balance transferred.
- FASTag account proof: Details of your FASTag account, which may include the FASTag ID or linked vehicle registration number.
- Identity proof: Depending on the issuer's requirements, a copy of your PAN card, Aadhaar card, or other identity proofs might be needed for verification purposes.
How to apply for a Bajaj Pay FASTag
Here are the steps to purchase Bajaj Pay FASTag from the Bajaj Finserv website:
- Visit the Bajaj Finserv website
- Click on ‘FASTag’ under the ‘BAJAJ PAY’ section
- Enter your registered mobile number
- Enter the OTP sent to your mobile number
- If you do not have a Bajaj Pay Wallet, you will need to create one
- Enter your Vehicle Registration Number and upload a copy of the RC
- If the vehicle details are not fetched automatically, enter them manually
- Provide the delivery address for the FASTag
- Review and agree to the Terms and Conditions
- Choose the account from which the amount will be debited
- Tap on ‘PROCEED’ to complete the purchase process of the FASTag
- After your order is placed successfully, your FASTag will be delivered to you in 7 days on the given address post verification of Registration Certificate (RC).
In conclusion, while the process of transferring FASTag balance to a bank account can vary between issuers, it generally involves contacting customer support, providing necessary details, and waiting for the transfer to be processed. Always ensure you have the required documents and information in hand to facilitate a smooth and efficient transfer process.
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Frequently asked questions
Yes, it is possible to transfer the balance from your FASTag back to your bank account. The process involves contacting your FASTag issuer and following their specific procedure for the balance transfer.
To transfer the balance from your FASTag, contact your FASTag issuer's customer support and request a balance transfer. You will need to provide your bank account details and possibly some form of identity verification.
Removing balance from your FASTag involves a similar process to transferring the balance. You need to reach out to the FASTag issuer's customer support to initiate the balance removal or transfer to your bank account.
To withdraw money from your FASTag account, you typically need to follow these steps:
- Log in to your FASTag account: Use the mobile app or the web portal provided by your FASTag issuer.
- Navigate to the ‘Withdraw’ or ‘Transfer’ section: This option might be labeled differently depending on your issuer.
- Enter your bank details: Provide the bank account number and other required details where you want the money to be transferred.
- Confirm the transaction: Verify the details and confirm the withdrawal. The amount should be credited to your bank account within a few working days.
Yes, you can get a refund of your FASTag balance. The process generally involves:
- Contacting customer support: Reach out to the customer service of your FASTag issuer.
- Submitting a refund request: Provide necessary details such as your FASTag account number and the reason for the refund.
- Verification and processing: The issuer will verify your request and process the refund. The refunded amount will be credited to your linked bank account.
