How to Get Your FASTag Security Deposit Back Online: A Comprehensive Guide
FASTag has greatly simplified toll payments in India, ensuring quicker and more convenient transactions for road users. Nevertheless, one area of complexity arises when it comes to reclaiming the security deposit upon account closure. This guide aims to eliminate confusion and provide you with a step-by-step process to facilitate the refund of your security deposit. Let’s explore into the details to ensure a seamless experience.
Understanding the FASTag Security Deposit
Upon setting up a FASTag account, users are required to pay a one-time security deposit in addition to the issuance fee. This deposit acts as a safeguard against any outstanding payments, such as low balances during toll transactions. Notably, this deposit is fully refundable upon the closure of your FASTag account, provided there are no pending payments. The amount varies according to the vehicle category, usually ranging from Rs. 100 to Rs. 250, depending on the issuer.
Steps to Deactivate Your FASTag Account
- Contact Customer Care: Begin by reaching out to your FASTag issuer’s customer care service. You can easily find the contact details on the issuer’s website, mobile app, or physical statements.
- Inform the Representative: Upon contacting customer care, express your intention to deactivate your FASTag account. The customer care representative will guide you through the specific deactivation process .
- Ensure Complete Deactivation: Depending on the issuer, account deactivation might involve online portals, mobile apps, or a physical visit to a designated branch.
Clear Any Outstanding Dues
Before you can receive a refund of your security deposit, it’s crucial to ensure that your FASTag account has no outstanding balance. This consist of any unpaid tolls, administrative charges, or penalties. The process for clearing the outstanding balance can be completed through the issuer’s online portal, mobile app, or by contacting customer care.
Requesting the Security Deposit Refund
Once your account has been fully deactivated and cleared of any dues, it is important to explicitly request a refund of the security deposit from the issuer. The procedure for obtaining the refund may differ based on the issuer. Some may automatically initiate the refund upon account closure, while others may require a separate request.
If you have an account with the issuing bank, the refund may be electronically credited directly to your linked bank account. Though, for non-bank FASTag issuers or the individuals without a bank account with the issuing bank, a demand-draft may be issued and sent to the registered address. It’s important to note that banks may take some time to process the refund or dispatch the demand draft, typically ranging from 3 to 10 working days, depending on the issuer.
Additional Considerations
If your FASTag is lost or damaged, it’s crucial to inform the issuer immediately. They may have specific procedures for handling such cases, which could potentially impact the security deposit refund process. Therefore, timely communication regarding any issues with your FASTag is paramount.
Obtaining a refund of your FASTag security deposit is a relatively straightforward process. However, it’s essential to have your account details readily available and ensure that there are no outstanding dues. By following the outlined steps and understanding the associated considerations, you can effectively navigate the refund process and reclaim your security deposit with ease.
By following this comprehensive guide, FASTag users can confidently initiate the refund process, ensuring a seamless experience from account deactivation to the receipt of the security deposit refund.
So, whether you’re seeking clarity about reclaiming your security deposit or preparing to close your FASTag account, this guide equips you with the necessary steps and considerations to facilitate a smooth refund process.
