Can I withdraw or refund unused funds in my FASTag wallet?

A FASTag wallet is a digital wallet linked to your FASTag account. While the FASTag tag account is directly associated with your vehicle and facilitates toll payments, the wallet acts as a repository where funds are stored. These funds are deducted whenever you pass through a toll plaza.

The key difference lies in their functionality:

• FASTag Tag Account: Directly tied to your vehicle’s tag for toll payments.
• FASTag Wallet: A digital balance storage system that can be topped up and used for toll deductions or other services.

Understanding this distinction is crucial when addressing refund or withdrawal requests, as the wallet balance is separate from the FASTag tag itself.

Not all banks or issuers allow withdrawal or refund of unused FASTag wallet balances. Policies vary depending on the issuer. However, most major banks and financial institutions, including Bajaj Finserv, provide an option to request refunds under specific circumstances, such as selling your vehicle or closing your FASTag account.

Common scenarios where refunds are permitted:

1. Vehicle Sold: If you have sold your vehicle, you can request a refund of the remaining wallet balance after deactivating the FASTag.
2. Account Closure: When you no longer need the FASTag service, you can close your account and claim the unused funds.
3. Tag Deactivation: If the FASTag tag linked to your account is deactivated, the wallet balance can be refunded.

Pro Tip: Always check with your FASTag issuer for their specific refund policies and procedures.

When requesting a withdrawal or refund of unused FASTag wallet funds, it is essential to be aware of the associated charges and processing times. While some issuers may process refunds free of cost, others might charge a nominal fee.

Important details to keep in mind:

• Processing Fees: Refer to the official Bajaj Finserv Fees and Charges page for updated details on any applicable fees.
• Timeframe: Refunds typically take 7–15 business days, depending on the issuer’s policies.
• Verification: Ensure your bank account details are updated and verified for seamless processing.