FASTags must for all cars from December 15

FASTags are issued by 22 certified banks through various channels such as Point-of-Sale (POS) at National Highway toll plazas.

With the help of a FASTags, you will not have to stop your vehicle at toll plazas to pay the toll. As soon as the vehicle crosses the toll plaza, the toll will get deducted from the bank account linked to FASTag affixed on the vehicle’s windscreen.

FASTags must for all cars from December 15. Here’s how you can buy, recharge

The year 2020 has quite a few long weekends. A long weekend for many means a road trip, and a road trip entails you driving on highways dotted along which are many toll booths. And come December 15 (this Sunday), you will have to pay twice the regular toll amount if your vehicle does not have a FASTag.

That is right. The Ministry of Road Transport and Highways had announced that FASTags will become mandatory for all vehicles, private and commercial, from December 15 (the earlier deadline was December 1).

So, if you are yet to get a FASTag, here is everything you need to know.

What are FASTags?
FASTags are prepaid rechargeable tags for toll collection that allow automatic payment deduction from the FASTag, they are normally affixed on the windscreen of your vehicle. With the help of a FASTag, you will not have to stop your vehicle at toll plazas to pay the toll. As soon as the vehicle crosses the toll plaza, the toll fee will get deducted from the bank account/prepaid wallet linked to the FASTag affixed on the vehicle’s windscreen.

An activated FASTtag works on Radio Frequency Identification (RFID) technology. Moreover, these FASTags do not have any expiry date, that is, they can be used as long as they are readable at the toll plaza and are not tampered.

FASTags are issued by 22 certified banks through various channels such as Point-of-Sale (POS) at National Highway toll plazas and select bank branches.

How to buy FASTag from HDFC Bank?
HDFC Bank issues a reloadable/rechargeable FASTag through which you can make toll payment at 420 plus toll plazas at National Highways across the country. You need to visit HDFC Bank’s authorised agent sales offices or Point of Sales (POS) locations to get your FAStag account created. Carry a copy of your know-your-customer (KYC) documents along with the original documents. The HDFC FASTag has a validity of 5 years.

How to buy, recharge FASTag using Paytm
The Paytm FASTag is a reusable tag that works on RFID. The FASTag will be linked to your Paytm Payments Bank account and Paytm Wallet. Hence, make sure you have enough money in your Paytm wallet to allow for toll payments.

What are the charges for FASTag?
FASTag issued by certified banks can charge maximum of Rs 100 for each tag, which is fixed by National Payments Corporation of India (NPCI). However, the actual tag issuing charges are defined by the bank and may vary from bank to bank.

For instance, HDFC Bank is selling FASTag for car at Rs 400. The pricing includes the following:

• Rs 100 for Tag issuance fees
• Rs 200 for Refundable Security Deposit
• Rs 100 for first recharge amount in wallet when the wallet is been created

ICICI bank is selling FASTag for car at Rs 499.12 in the following manner:

• Rs 99.12 for Tag issuance fees
• Rs 200 for Refundable Security Deposit
• Rs 200 for first recharge amount in wallet when the wallet is been created

The top up charges may vary from bank to bank and this difference can be seen on respective banks’ website.

How to recharge a FASTag?
If the FASTag is already linked with your bank account, then there is no need to load money separately in a prepaid wallet. You only need to ensure that your FASTag-linked bank account has sufficient balance to allow for toll payments.

However, if you have linked the FASTag to a prepaid wallet (NHAI prepaid wallet), then it can be recharged through various channels such as payment through cheque or through UPI/debit card/ credit card/ NEFT/ Net Banking. Also, additional charges will be levied while recharging the FASTag account through different channels.

Moreover, there is a cap on the maximum balance which can be kept in the prepaid wallet. As per regulations, these limits are:

For limited KYC FASTag account holder: This type of FASTag cannot have more than Rs 20,000 in their FASTag prepaid wallet. The monthly reload limit is also capped at Rs 20000.

For full KYC FASTag account holder: This type of FASTag account cannot have more than Rs 1 lakh in their FASTag prepaid wallet. There is no monthly reload cap in this account.

How to recharge FASTag using BHIM UPI app?
Bharat Interface for Money (BHIM) is a UPI-based app which enables you to transfer money using a mobile number, a virtual payments ID or through account number and IFS code. It is an instant payments application meant for sending and receiving money. Also, through this app, you can use multiple banks to send money from person to another.

Source: http://bit.ly/2RLpsvE