FASTag Update: FASTags are used to pay toll taxes on national highways and motorways. Their introduction has eliminated congestion and the hassle of carrying cash. Additionally, FASTags are now being used for digital parking payments at malls, airports, and hospitals in major cities. If you use a FASTag, there is significant news for you.
If you wish to switch banks, you do not need to purchase a new FASTag or remove the existing tag from your vehicle’s windscreen to affix a new one. The National Highways Authority of India (NHAI) has introduced a new provision for FASTag users that eliminates the need to acquire a new tag. NHAI has launched ‘OneTag’ within the Rajmargyatra app, allowing users to seamlessly port their FASTag from one bank to another.
How do you switch banks?
You need to log in to the Rajmargyatra app and enter your vehicle’s registration number. The app will indicate whether your FASTag is eligible for portability. If eligible, you must obtain a 6-digit MVC (Verification Code) from your current FASTag bank. You then need to select the new bank within the app and complete the KYC and wallet setup process for that bank. Once this process is complete, your FASTag will be linked to the new bank.
What happens to the balance in the old FASTag?
After the porting process is complete, the old bank will close your previous wallet and refund the remaining balance. Certain deductions may apply in accordance with the rules.
Under the OneTag portability rules, FASTag porting cannot be done repeatedly. If you have already switched your FASTag bank, you must wait six months before porting it again.
According to the NHAI, FASTag usage is widespread across the country. FASTag penetration exceeds 98%, with approximately 13 crore users. This new system eliminates the need to repeatedly purchase new FASTags. This will save both the time and money required for re-issuance.