Paytm Fastag security deposits to be refunded to your bank account know how step by step guide

RBI has given a deadline to continue the services of Paytm Payments Bank till March 15, 2024. It also includes Paytm Fastag service which will be closed after March 15. In such a situation, users are worried whether the security deposit in their Fastag will be recovered or not. We are telling you how to get back your security deposit if you have it in Paytm Fastag.

Paytm Fastag It is going to be closed from March 15. In such a situation, various toll collection units like Indian Highway Management Company Limited (IHMCL), NHAI’s toll collection unit have removed the name of Paytm Payments Bank from the list of banks that are allowed to issue Fastag. Recently RBI has issued a notification regarding this. FAQs were also issued. One of those questions was-

What Paytm Payments Bank Can the Fastag balance issued by be transferred to a new Bank’s Fastag?
In response to this, the bank has said that the facility of credit balance transfer is not available in Fastag. The user will first have to close his old Paytm Fastag. After that, a refund application will have to be submitted to the company. In such a situation, questions also arise on the security deposit. The security deposit in Paytm Fastag can be from Rs 150 to Rs 250. Now the users are worried about not getting it back.

The user can get the Fastag security deposit back. For this, the user will first have to return his Fastag to the company. You can do this through the Paytm app or by calling its customer care number. After that the company will refund you. When the Fastag is disabled by the company, the security deposit will come to your Paytm wallet. The user will also receive a message about this. After coming to the wallet, the user can use it or transfer it to the bank account.