The acceleration towards digital payments has created new opportunities for the entire payment ecosystem. We went from using cash to switching to cashless payment methods in no time. Moreover, digital payments are convenient, they’re more secure and time saving. We no longer have to do things manually and wait in a long queue.
FASTag is another one of these cashless payments systems that make travelling along the highways easier! Gone are the days when you had to endure long waiting lines, as you waited to pay your toll tax. Now, with the advancements of digital payments, you can zoom past them.
But what is FASTag? It is a prepaid rechargeable tag that enables easy toll payments on national highways. It allows automatic payment deduction of toll charges as the tags are fixed on the vehicle’s windscreen.
From 15th Dec 2021, FASTag is mandatory for all vehicles to make cashless transactions on toll payments at the highway. Read on to learn more about how the FASTag works here.
Benefits of getting FASTag
- You can bypass long waiting queues and reduce your travelling time along the highway
- You can reduce fuel consumption at the toll booths
- Cashless payment system means you need not worry about having cash or change at the toll booth
- Reduced dependency on physical exchange of cash also helps to practice social distancing norms, especially in times of the pandemic
- Lesser traffic at poll booths also helps to reduce pollution levels in the toll booth areas
Features of FASTag
- You can create an account with a username and password protection to make transactions and check statements.
- The tag can be recharged, via credit card, debit card, Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), and net banking.
- FASTag offers attractive cashback benefits.
- It is enabled with Radio-frequency identification (RFID) technology and linked with the bank account.
- You get e-mail and SMS alerts for all your transactions.
- Know-your-customer (KYC) documents are required to issue a tag.
- FASTag has a 5-year validity period.
Documents Required for Fastag
When you apply for a FASTag offline, you need to ensure that you have all the required documents in place. You must carry a copy of your KYC documents along with the original documents.
- Registration Certificate (RC) of the vehicle you want to get a FASTag issued for.
- A duly filled and signed application form to issue FASTag.
- Identity proof and address proof documents such as driving license, PAN Card, Aadhaar card, etc.
- A passport-size photograph of the vehicle owner.
After verification, the bank will provide a FASTag that you can affix to your vehicle’s windscreen.
So, now that you have learnt about FASTag and its many benefits, you will obviously be looking forward to getting it. There is a way to recharge FASTag – both online and offline. Eager to know more? Keep on reading to understand how you can do these prepaid recharges.
How to recharge FASTag Offline?
One can avail FASTag from over 28,000 Point-of-Sale (POS) locations placed by several banks, Common Service Centers (CSC), National Highways toll fee plazas, Regional Transport Offices (RTO), and petrol pumps. Mentioned below is the list of banks from where you can avail the tag:
- Airtel Payments Bank
- AU Small Finance Bank
- Axis Bank Ltd
- Bank of Baroda
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- City Union Bank Ltd
- Cosmos Bank
- Dombivli Nagari Sahakari Bank
- Equitas Small Finance Bank
- Federal Bank13
- FINO Payments Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IDFC First Bank
- Indian Bank
- Indian Overseas Bank
- IndusInd Bank
- Jammu and Kashmir Bank
- Karnataka Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Nagpur Nagarik Sahakari Bank
- PAYTM Bank
- Punjab Maharashtra & Co-operative Bank
- Punjab National Bank
- Saraswat Bank
- South Indian Bank
- State Bank of India
- Thrissur District Cooperative Bank (Kerala Bank)
- UCO Bank
- Union Bank of India
- Yes Bank Ltd
How to recharge FASTag Online?
The easiest way to get FASTag online is by visiting the website of the bank that issues FASTag. Log in to your FASTag account and then add money by recharging via payment methods like net banking, UPI, and credit or debit card.
You can also recharge FASTags via the UPI on ‘My FASTag App’. FASTags linked to your bank account via the ‘My FASTag App’ gets recharged automatically. However, you can set the amount for automatic FASTag recharge while linking the tag with your bank account or a BHIM UPI.
Another simple way to recharge FASTag is by adding money to your linked Airtel Payments Bank account or wallet from the Airtel Thanks App. You are required to pay a one-time fee of Rs. 100 on FASTag that includes GST. The refundable security deposit is based on the type of vehicle for which you plan to issue a FASTag online.