FASTag Vehicle Transfer and Closure: What to Know

FASTags are linked to a specific vehicle and should be closed before ownership transfer. When selling your car, closing your FASTag account is an essential step. Here is why:

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.

Safeguard your financial data: Leaving your FASTag active exposes your financial information to potential misuse. Closing the account ensures your data is secure.

Comply with legal requirements: FASTag is mandatory for most four-wheelers and above travelling on national highways in India. The new owner must register their own FASTag to comply with regulations.

Avoid disputes: Leaving the FASTag active can lead to unnecessary disputes with the new owner over toll charges or account usage.

FASTag closure refund process

One of the key concerns when closing a FASTag account is recovering your security deposit and any remaining balance. Bajaj Finance follows 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 Finance portal or app, 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.

Refunds are typically credited to your registered bank account within 7 to 10 working days of your request being submitted and verified. Refunds are only processed once all pending toll transactions and dues linked to your FASTag are settled, so clear any outstanding amount before initiating closure to avoid delays. If your wallet shows a negative balance, you may need to recharge it first to bring the balance to zero before the closure and refund process can proceed.

If you face any issues with your refund, such as delays or discrepancies, contact Bajaj Finance customer support with your request reference number 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:

• Vehicle Registration Certificate (RC): A copy of the RC is essential to verify ownership details.
• Identity Proof: Documents such as Aadhaar card, PAN card, or passport can be used as identity proof.
• Address Proof: Submit valid address proof like a utility bill, voter ID, or Aadhaar card.
• Passport-sized Photograph: A recent photograph of the applicant is required.
• 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 Finance 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 Finance’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 Finance portal to manage your FASTag account and make your vehicle transfer a seamless experience.