As India progressed towards digitalization, the Ministry of Highways and Roads made it compulsory to switch to paying electronic fees for all vehicles.
This will apply to commercial and private vehicles until December 1, 12020.
The new online payment system launched across the country is called FASTAG. Learn more about FASTag, how and where you can buy, recharge and more
What is FASTag and what are its benefits
This is an RFID based adhesive that needs to be attached to the front windshield of your car. The Graphics Kiosk will have an FASDID reader for scanning FASt tags.
Thus, when crossing highways and toll booths, toll fees will be automatically deducted without any manual intervention. This way, you can easily cross the toll squares without stopping.
The FASTag payment method will eliminate the need for time consuming as well as cash carry and change every time. Just like a mobile wallet, you’ll need to recharge a FASTag account for the amount deducted from your location fee.
For each transaction, you will also receive an SMS. You will also be notified when your balance is low or when you download money.
Where to Buy FASTag?
You can buy FASTAG from affiliated banks like Axis, ICICI Bank, IDFC Bank, Syndicate Bank, SBI and HDFC Bank.
You can get one from your chosen petrol pump, RTO, yard number and Paytm. It brings a shelf life of 5 years.
Do you need a document?
It is important to note that you will need certain documents to purchase the FASt tag.
The list of documents includes a vehicle registration certificate, passport-sized picture, voter ID card, Aadhaar card, PAN card, or passport. It is important to note that the mark can only be used with a single vehicle.
How to recharge and limit
To recharge a FASTag account you need to download my FASTag app on Android. After you enter the details, you’ll see the account balance and more. You can upload funds using Net Banking, Credit and Debit Cards, NEFT or RTGS.
When you talk about recharge amount, you can download up to a minimum of Tk 100 up to a maximum of Tk 10,000. And if you have completed KYC, you can download up to one lakh rupees. If you buy before December 1, there are some offers that you can benefit from as well.
If FASTag is already linked to your bank account, separate funds are not required in the prepaid wallet. All you need to do is make sure that your account is linked to FASTag so that there is enough balance to allow the payment.
However, if you connect FAStig to a prepaid wallet (NHAI prepaid wallet), it can be recharged through various channels through check payment or UPI / debit / credit card / NEFT / Net banking card.
You cannot use a FASTag with two or more cars and you have to buy separate FASTags for two cars, etc.
According to the IHMCL website, “If you spend a fee of 10km, you can get a franchise on the number paid through FASAST.
In this case, you need to provide the necessary documents – proof of the bank’s residence at the nearest selling point, to make sure your residential address is 10 km from a specific toll square.
During activation, you will be required to supply KYC documents in accordance with KYC Bank Policy (know your customer).
Regardless of the KYC document, you will be required to present the Vehicle Certificate of Registration (RC) with the FASEST tag to the bank.
These fees may vary when buying FASTag online because the person who is the seller has to pay for your products by default also adds delivery cost, says Abhijit Sehgal, CEO of 1 Payments, a digital payment solutions company in Mumbai.
During activation, you will be required to supply KYC documents in accordance with KYC Bank Policy (know your customer). Regardless of the KYC document, you will be required to present the Vehicle Certificate of Registration (RC) with the FASEST tag to the bank.
After that, I have the flexibility to link FASTag to any of your existing bank accounts using my FASTag mobile app.
The prepaid NHAI (National Highway Authority of India) wallet wallet is available on my FASTAG mobile app, where you can upload money and deduct fees from prepaid wallets instead of a direct discount from a bank account.