With the idea of eliminating long queues and jams across the country, the Government of India (GOI) had decided to make it mandatory for all four-wheeler vehicles to install a FASTag on them. This tag would help them cross all toll plazas that are on the National Highways Authority of India without having to stop for cash payments.
Eliminating the manual collection of tax in cash at toll plazas, the FASTag uses a Radio Frequency Technology Device (RFID) to detect the tag on a vehicle and deduct the amount from the linked digital wallet as the toll tax amount.
Before we move on to learning what is FASTag reserved balance in Paytm and how it works, let us first understand how Paytm FASTag works-
- Once your Paytm FASTag registration is complete, your FASTag account will be created and automatically linked with your Paytm wallet
- Additionally, using the Paytm wallet for your FASTag-related transactions will make it easier for you as you won’t have to recharge your FASTag again and again. All you need is a minimum balance in your Paytm wallet and the toll tax amount would directly be deducted from your wallet as and when you cross a toll plaza
- Having a single Paytm wallet for multiple needs will help you manage your balances and keep a detailed track of all your travel-related expenses, whether fuel, purchases at departmental stores, or expenses made at toll plazas
- Further, you can use your Paytm FASTag for multiple payments – at tolls, parking lots and fuel stations.
What is Paytm FASTag Reserved Balance?
Now, you are aware that to keep your FASTag working, you simply need to have balance in your Paytm wallet. But what happens when your Paytm wallet balance goes low?
That’s when the FASTag Reserved Balance comes to be of help. Let’s understand how!
- When you buy your Paytm FASTag, you pay a fee on the Paytm app, which includes the Tag Issuance Fee (inclusive of GST) and FASTag Reserved Balance
- This balance is reserved to maintain a minimum amount in your Paytm FASTag Wallet
- In case your Paytm Wallet balance runs low, then this Reserved Balance is used to pay for the toll charge
- Further, if your FASTag Reserved Balance is also running low, your tag will be blocked till you top-up your Paytm Wallet
- And once you top it up, your tag will get reactivated in 10 minutes
- So, do remember to maintain the FASTag reserved balance and always be on the go!
The FASTag reserved balance basically intends to save you from being stopped at toll plazas because of low balance in the Paytm wallet. It works as a reserve for your FASTag transactions and ensures that you are always on the go with your Paytm FASTag.
Here’s Why You Should Opt for Paytm FASTag!
Listed below are some of the reasons why you should buy the Paytm FASTag–
- No Separate Recharge– Simply, maintain sufficient balance in your Paytm Wallet & Add Money to top-up, whenever needed.
- One Tag. Multiple Uses– Pay for toll, parking & fuel using your Paytm FASTag.
- Charge Protection & Customer Support– Paytm ensures correct amount deduction at tolls & immediately raises claims on your behalf against any extra charges levied.
- Single Wallet Balance for All Payments– Use your Paytm Wallet balance for Tolls, Shopping, Recharges & other payments.
- Exciting Offers– Get amazing Cashback offers on FASTag top-ups & toll payments.
- Paytm DIY FASTag– It allows you to buy your FASTag even if you don’t have the required documents at the time of purchase. You can simply buy and upload the documents later, as per your convenience
- Paytm Reserve Balance– It helps you keep away from situations where you may have a lower balance in your Paytm wallet so that you do not get stuck at toll plazas
Adding to the multiple benefits of using the Paytm FASTag, FASTag reserved balance helps its users to always be on the go. When you have a lower balance in your Paytm wallet, your FASTag toll amount would be deducted from your Reserved balance, thereby ensuring that there are no stops in your journey with the Paytm FASTag. If, in case, your FASTag Reserved Balance goes low, your tag will be blocked till you top-up your Paytm Wallet. Once you top it up, your tag will get reactivated in 10 minutes. A part of your FASTag issuance fees at the time of purchase of your FASTag is reserved for this balance to maintain a minimum amount in your Paytm FASTag Wallet, which ensures that you have a hassle-free journey with Paytm FASTag!