A FASTag wallet is specifically designed for toll payments, while your main wallet or bank account handles broader transactions. Transferring funds from your FASTag wallet to your main wallet allows you to use the balance for other purposes or consolidate your finances.
Can I transfer funds from FASTag Wallet back to main wallet?
Managing your FASTag wallet balance efficiently is crucial, especially when you need to transfer funds back to your main wallet or bank account. Whether you sold your vehicle, switched to a new FASTag, or simply want to consolidate your funds, this guide will walk you through the process seamlessly. Learn about the banks that support FASTag wallet-to-bank transfers, potential charges, timelines, and how to stay secure during the transaction.
Which banks allow wallet-to-wallet or wallet-to-bank transfer?
Not all banks provide the option to transfer funds from your FASTag wallet back to your main wallet or bank account. The service availability depends on the bank or payment provider managing your FASTag account. Major banks like ICICI Bank, HDFC Bank, and SBI generally allow wallet-to-bank transfers through their respective apps or portals. However, the process and eligibility criteria may vary.
Pro-Tip:
Before initiating a transfer, check with your FASTag issuer regarding the availability of this feature. You can log in to your FASTag account via the bank’s app or website to confirm if the transfer option is enabled.
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Charges, timelines & what to expect after the transfer
Charges:
Most banks charge a nominal fee for transferring funds from your FASTag wallet to your bank account. Verify these charges with your FASTag issuer before initiating the transfer.
Timelines:
Transfers typically take 1–3 working days to reflect in your bank account. However, the exact timeline depends on the bank’s processing speed.
What to expect:
Once the transfer is complete, you will receive a confirmation message from your FASTag issuer. Ensure the transferred amount matches your expectations and report discrepancies immediately.
Frequently Asked Questions
What happens to the balance in my FASTag wallet when I sell my vehicle?
When you sell your vehicle, the remaining balance in your FASTag wallet remains intact. You can transfer the funds to your bank account or use them for toll payments on another vehicle.
Can I directly move money from the FASTag wallet of one vehicle to the FASTag wallet of another vehicle?
No, direct transfers between FASTag wallets are not allowed. You must first transfer the funds to your bank account and then reload the new FASTag wallet.
Is there a minimum or maximum amount that can be transferred back from a FASTag wallet to my bank account?
The minimum and maximum transfer limits vary by bank. Check with your FASTag issuer for specific details regarding transaction limits.
My FASTag account is active but the wallet-to-bank transfer option is not visible — why?
If the wallet-to-bank transfer option is not visible, it could be due to incomplete KYC or restrictions imposed by your FASTag issuer. Contact customer support for assistance.
Can I transfer funds back from a corporate FASTag wallet to a personal bank account?
No, corporate FASTag wallets are linked to business accounts and cannot transfer funds to personal bank accounts. Ensure your corporate FASTag wallet is managed according to company policies.
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