The FASTag system has transformed toll payments across India, reducing waiting
times and making travel faster. However, there may be times when you need to transfer your FASTag balance back
to your bank account, whether you’re selling your vehicle or simply closing the account. Knowing how to transfer
your FASTag balance is essential to ensure you have easy access to your funds whenever needed.
What is FASTag?
FASTag is an electronic toll collection system operated by the National Payments Corporation of India (NPCI). It is
attached to your vehicle’s windscreen and uses Radio Frequency Identification (RFID) technology to automatically
deduct toll fees as you pass through the toll plaza. FASTag eliminates the need for cash payments and long waits
at toll booths, making travel faster and more efficient.
FASTags are linked to a prepaid account, which can be topped up using your bank account, UPI or other digital payment
methods.
Step-by-step guide to transferring your FASTag balance
1. Log in to your FASTag account: Access your FASTag issuer's online portal or mobile app. This
could be a bank's app or a third-party payment platform, depending on where you got your FASTag.
2. Check your FASTag balance: Confirm your balance on the dashboard. You can decide whether to
transfer the full amount or just a portion.
3. Submit a balance transfer request: Look for an option under 'Account Settings' or 'My FASTag' to
close or transfer the balance. Some issuers may have an online option, while others might require an email or
form submission.
4. Verify bank details: Ensure your bank account is correctly linked. You might need to provide a
cancelled cheque or verify your account details, such as the IFSC.
5. Wait for confirmation: The transfer is usually processed within 7-10 days. Check your bank account statements to confirm receipt of the funds.
Important things to remember
- Closure fee: Some issuers may charge a nominal fee for closing or deactivating your FASTag
account. Ensure you’re aware of any applicable charges before initiating the process.
- Inactive accounts: If your FASTag account has been inactive for an extended period, you may
need to re-activate it before transferring the balance. Contact customer service for assistance in such
cases.
- Refund timelines: While most transfers occur within 7-10 days, the timeline could vary
depending on your issuer. Check their terms for the specific timeline.
Also Read: How to find
FASTag customer ID?
Conclusion
Transferring your FASTag balance to your bank account is simple when you know the right steps. Whether you're
switching vehicles, closing your account, or reclaiming unused funds, following the procedure outlined above
ensures that the balance is safely transferred. Just remember to verify your bank details and check any fees
that might apply so you can have peace of mind throughout the process.
If you want to streamline your digital payment options, Axis Bank’s FASTag solution is an excellent choice. It offers
features like automatic toll deduction, easy recharge through mobile banking, and robust customer service
support. Additionally, if you ever need to close your FASTag or transfer the balance to your bank account, Axis
Bank provides clear instructions and assistance to make the process smooth and hassle-free.
Disclaimer: This article is for information purpose only. The views expressed in this article
are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank
Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by
the reader for taking any financial decisions based on the contents and information. Please consult your
financial advisor before making any financial decision.
