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Paytm Banned by RBI, A Step-by-Step Guide to Close your Paytm Fastag and Paytm Payments bank account.

In this post we will know Why Paytm Banned by RBI, and A Step-by-Step Guide to Close your Paytm Fastag and Paytm Payments bank account.

Hello readers, As we all know the Paytm payments bank (PPBL) is banned and you can’t use it after 29th February 2024, as ordered by RBI. This includes facilities like top-ups, paytm wallets, NCMC cards, Fastags, prepaid cards etc. under section 35A of the Banking Regulations Act, 1949.
People have many questions about closing their Paytm Fastag (How To Close Your Paytm Fastag) and Paytm payments bank accounts. In this article we are going to discuss the same and clear all your doubts with valid solutions.. let’s look together into this matter.

What Is Paytm Fastag and Paytm Payments Bank?

Paytm Fastags is an easy and efficient way to pay your toll taxes for a smooth and easy getaway. It is connected to your Paytm wallet and deducts money as per your toll charge. You have to maintain a balance in your Fastag wallet to pay the tolls.

Paytm Payments Bank is an Indian payments bank associated with Paytm. You can add and withdraw your funds just like any other banks.
but as we all know RBI has banned both of these as they were not following certain rules and guidelines.

Paytm Banned by RBI, A Step-by-Step Guide to Close your Paytm Fastag and Paytm Payments bank account.
A Step-by-Step Guide to Close your Paytm Fastag and Paytm Payments bank account.

Also Read: How To Change Paytm Fastag To Another Bank Account | Paytm Fastag After 29 Feb: Paytm Banned? Deactivate Fastag online… here’s everything you need to know.

How To Close Your Paytm Fastag?

If you wish to close your paytm Fastags, here are some basic and easy steps you can follow to do so.
1) Log in to your paytm account, with your registered number to fastag.
2) Go to the search bar and type “fastag” in it.
3) Go to the manage fastag option, in the services.
4) you’ll see the Fastag, which is connected to your mobile number, in order to close or deactivate it, go to the help and support as paytm has removed the direct button.
5) Go to the chat box and select “I want to close my fastag “.
6) select your fastag VRN to verify the user.
7) you’ll see basic information and below it you’ll see close my fastag button.
8) Now you’ll be asked the reason to deactivate your fastag. select service related issues.
9) now click on close Fastag and you’ll receive a message on your registered mobile number.
10) “Your FASTag will be closed in 5-7 working days. Security Deposit (₹250) and Minimum Balance maintained will be refunded to your Paytm Wallet.” you’ll receive a message like this.

You can also close your fastag using the customer care number which is toll free 01204456456 or Toll-free number 18001204210
you’ll be asked certain questions and they’ll help you completing the process.
also you’ll be asked your mobile number and VRN.

How To Close Paytm Payments Bank Account?

if you wish to close your Paytm payments bank account then here are some steps you can follow to do so.
1) Contact at the chat box of Paytm and raise a request.
2) once the request is received by Paytm, they’ll contact you for your reason and confirmation.
3) then you’ll receive a confirmation message and you have to follow the link to close your account.

we hope you found this article helpful, for more such informative content.. stay tuned with

Archita Jain

Hello, this is Archita Jain . I am currently pursuing Bachelors in Journalism and Mass Communication. I have a huge interest in learning new things and craving out it's facts. I love presenting new article and knowledge in front of you'll.

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