How to Transfer Your FASTag Balance to a Bank Account?

Your FASTag wallet balance refers to the prepaid amount linked to your FASTag account, which is used to pay toll charges electronically while driving through toll plazas. This balance is stored in your FASTag wallet and is deducted automatically whenever you pass through a toll gate.

Common reasons to transfer your FASTag balance:

1. Selling or transferring your vehicle: If you have sold your vehicle, you may no longer need the FASTag associated with it. Transferring the remaining balance to your bank account ensures you do not lose any unused funds.
2. Discontinuing FASTag usage: If you decide to stop using FASTag for any reason, you can claim a refund of the unused balance.
3. Vehicle deregistration: In cases where your vehicle is deregistered, you might want to deactivate the FASTag and transfer the balance to your bank account.

By transferring the balance to your bank account, you can ensure that your money is not wasted and can be used for other purposes.

To initiate a FASTag balance transfer to your bank account, you will need to provide specific documents and information. These requirements ensure the process is secure and that the refund is credited to the rightful owner.

Here is what you will need:

1. Identity proof: A government-issued ID such as Aadhaar card, PAN card, or passport.
2. Vehicle details: Information about the registered vehicle, including the registration certificate (RC).
3. FASTag account details: The FASTag wallet or account ID associated with your tag.
4. Bank account details: The account number and IFSC code where the refund should be credited.
5. Request form: Some service providers, including Bajaj Finserv, may require you to submit a formal refund request form.

Pro Tip:

Ensure that the details you provide match the information registered with your FASTag service provider. Any discrepancies may delay the refund process.

Once you have submitted the required documents and initiated the refund request, the processing time for transferring your FASTag balance to your bank account can vary. While service providers like Bajaj Finserv aim to process refunds promptly, several factors can influence the timeline.

Typical processing times:

• Standard processing time: Refunds are usually processed within 7–10 working days after the request is submitted and verified.
• Verification delays: If there are discrepancies in the submitted documents or account details, the process may take longer.
• Bank processing time: After the refund is approved, the time taken for the funds to reflect in your bank account depends on your bank’s processing timelines.

Considerations for delays:

• Incorrect or mismatched details in the submitted documents.
• Public holidays or weekends that may impact processing times.
• Pending dues or disputes related to your FASTag account.

If your refund is delayed, you can contact Bajaj Finserv’s customer support to check the status of your request.