Bajaj Finserv FASTag Vehicle Transfer and Account Closure Guide

When selling your car, closing your FASTag account is an essential step. Here is why:

1. Prevent misuse and unauthorised toll deductions: FASTag is linked to your personal account and vehicle details. If the account is not closed, you may continue to incur toll charges even after the car is no longer in your possession.
2. Safeguard your financial data: Leaving your FASTag active exposes your financial information to potential misuse. Closing the account ensures your data is secure.
3. Comply with legal requirements: FASTag is mandatory for all vehicles in India. The new owner must register their own FASTag to comply with regulations.
4. Avoid disputes: Leaving the FASTag active can lead to unnecessary disputes with the new owner over toll charges or account usage.

Pro Tip:

Always remove the FASTag sticker from the windscreen before handing over the vehicle to the new owner. This reduces the risk of accidental toll deductions.

One of the key concerns when closing a FASTag account is recovering your security deposit and any remaining balance. Bajaj Finserv ensures a straightforward refund process to make this transition hassle-free.

Steps to initiate the refund process:

1. Contact customer support: Log in to the Bajaj Finserv portal or reach out to customer service to request account closure.
2. Submit necessary details: Provide your registered mobile number, vehicle registration number, and FASTag ID to verify your account.
3. Request a refund: Once the account closure is initiated, request the refund for your unused balance and security deposit.

Refund timeline:

Refunds are typically processed within a few business days. However, ensure that all toll payments are settled before initiating the closure.

What to do if there are challenges:

If you face any issues with the refund, such as delays or discrepancies, contact Bajaj Finserv’s customer support team immediately for resolution.

For the new owner of the vehicle, applying for a new FASTag is mandatory. Here is a list of documents required to complete the application process:

1. Vehicle Registration Certificate (RC): A copy of the RC is essential to verify ownership details.
2. Identity Proof: Documents such as Aadhaar card, PAN card, or passport can be used as identity proof.
3. Address Proof: Submit valid address proof like a utility bill, voter ID, or Aadhaar card.
4. Passport-sized Photograph: A recent photograph of the applicant is required.
5. Bank Account Details: Provide account details or link a prepaid wallet to facilitate toll payments.

Pro Tip:

Ensure that all documents are up to date and match the details on the vehicle’s RC to avoid delays in the FASTag issuance process.

Conclusion

Closing your Bajaj Finserv FASTag account when selling your car is a critical step to ensure financial security and compliance with regulations. By following the steps outlined in this guide, you can close your FASTag account, secure your refund, and help the new owner apply for their own tag.

Bajaj Finserv’s dedicated customer support team is here to assist you at every step. Whether you are closing your account or applying for a new FASTag, the process is designed to be secure and hassle-free.

Take action today! Visit the Bajaj Finserv portal to manage your FASTag account and make your vehicle transfer a seamless experience.