Paytm Payments Bank News: Will Your FastTag Work After February 29? Find Out

Paytm Payments Bank News: Paytm, a major digital payment platform in India, is facing problems because the Reserve Bank of India (RBI) found issues with Paytm Payments Bank. Paytm is also known to provide FASTag services for vehicles in India. The National Highways Authority of India (NHAI) had set a deadline to finish verifying FASTag accounts. NHAI said FASTags with money but incomplete verification would stop working after the deadline to stop people from using one FASTag for many vehicles. The last day to verify your FASTag is February 29.

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Will Paytm FASTags work after February 29?

Yes, if there's enough money in the Paytm FASTag account. However, due to the RBI's restrictions, you won't be able to add more money to the Paytm FASTag after February 29. The RBI said you won't be able to add money to FASTags or Paytm wallets starting March this year. 

Can you move Paytm FASTag to another bank?

No, you can't move a FASTag from one bank to another. The only way to keep using a FASTag is to buy one from another bank.

Should you buy a FASTag from another bank to keep using it?

Right now, it's unlikely that Paytm FASTags will work after March unless there's enough money in the account. Once the money runs out, it's better to buy a FASTag from a different bank.

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Can you use Paytm to add money to FASTags from other banks?

It depends on what Paytm plans on doing, with respect to the FASTag services. Currently, you can add money to FASTags using Paytm. But it's not clear if this will still be possible after March 2024. To be safe, you can use other apps like Google Pay or PhonePe to add money to FASTags.