What if I do not want my balance auto-migrated?

Auto-migration of FASTag balance refers to the automatic transfer of the remaining balance in your FASTag wallet when you change your FASTag service provider, sell your vehicle, or replace your tag. This ensures that no funds are lost during the transition and that you can continue using the FASTag system seamlessly.

For instance, if you sell your vehicle and purchase a new one, the balance in your old FASTag wallet may be transferred to your new tag automatically. Similarly, if your issuing bank changes or merges with another financial institution, your FASTag balance might also be migrated to the new service provider.

Here are some common situations where FASTag balance auto-migration typically occurs:

1. Switching issuer banks:
   If your current FASTag issuing bank discontinues its services or merges with another bank, your balance may be migrated to the new issuer automatically.
2. Selling your vehicle:
   When you sell your vehicle, the FASTag associated with it is usually deactivated, and the balance can be transferred to a new tag linked to your new vehicle.
3. Replacing a damaged tag:
   In cases where your FASTag is damaged or lost, replacing it with a new tag may require the balance from your old tag to be migrated to the new one.

In each of these scenarios, Bajaj Finserv offers seamless solutions to manage your FASTag account and ensure that your funds are secure.

Opting out of FASTag balance auto-migration can have certain consequences, including:

• Limited tag usage:
  If you choose not to migrate your balance, you may not be able to use your FASTag for toll payments until the issue is resolved.
• Restricted wallet access:
  Your FASTag wallet may become inaccessible, leaving you unable to utilise the remaining funds.
• Pending dues reconciliation:
  If there are any pending toll payments or dues, you may need to manually settle them with your previous issuer.

Actionable Tip:

Log in to your Bajaj Finserv account to track tag usage and ensure that all dues are cleared.

Penalty charges: Bounced cheques and failed payments

Choosing not to auto-migrate your FASTag balance could lead to potential financial penalties, such as:

• Bounced cheques: If your FASTag wallet is linked to a bank account, failure to maintain sufficient balance could result in cheque bounces and associated penalties.
• Failed toll payments: Declining auto-migration may cause toll payments to fail, leading to additional charges or penalties at toll plazas.

Pro Tip:

Set reminders for regular FASTag wallet recharges to avoid penalties and ensure uninterrupted travel.

Your rights: The banking ombudsman and fee dispute

As a FASTag user, you have the right to dispute any unfair fees or penalties. The Banking Ombudsman Scheme provides a platform for customers to raise complaints against banks or service providers. If you believe you have been charged unfairly due to auto-migration or related issues, you can:

1. Submit a written complaint to your service provider or issuing bank.
2. If unresolved, escalate the issue to the Banking Ombudsman.
3. Provide all necessary documents, including proof of transactions and communication records, to support your case.

Bajaj Finserv ensures transparency in all its services, making it easier for customers to avoid disputes and manage their finances effectively.

How to get banking fees waived or reduced

If you wish to reduce or waive banking fees related to your FASTag, here are some actionable steps:

1. Consolidate balances: Transfer any residual funds from your old FASTag wallet to your new one to avoid losing money.
2. Maintain minimum wallet top-ups: Ensure that your FASTag wallet has a sufficient balance to prevent penalties for failed payments.
3. Request fee waivers: Contact your issuing bank or service provider to request fee waivers, especially in cases of auto-migration errors.

Bajaj Finserv: Transparent banking with fewer hidden fees

Bajaj Finserv is committed to providing transparent and customer-friendly financial services. With Bajaj Finserv, you can enjoy:

• Simple processes: Whether it is managing your FASTag balance or updating your details, Bajaj Finserv makes the process hassle-free.
• Minimal hidden fees: Our transparent fee structure ensures that you are always aware of the charges associated with your FASTag.
• Reliable customer support: Our dedicated support team is always available to assist you with your queries and concerns.