Travel across India has been transformed by FASTag. It puts an end to the long waiting lines at toll plazas. Now, one can run trips without making cash payments. The process requires a one-time security deposit, which you can reclaim when you terminate your account.
Better Knowledge about the Security Deposit
Security deposit for new FASTags is charged by banks. This deposit is like a promise to pay by the bank. It provides for the payment of toll charges in case the balance is inadequate. The issuer returns the total amount at the time of cessation of the contract. You are obliged to strictly abide by the correct procedure for a refund.
The FASTag customer care can first be contacted for help. The official website is the place where you will locate the support number of your FASTag issuer. Their mobile application is also helpful. Tell the reason for account deactivation to the expert. The executive will support you along the way.
Different issuers use different ways of deactivating accounts. Some may do it through their online portal while some require it in person at a bank branch. Most of them may be providing the service via their mobile app. You can only go to the next step if you do this.
Make sure there is no money owed in your account. This also refers to the penalties and toll transactions for which you have not paid. You must pay all dues before receiving the refund. This can be done via an app or a website. Customer service can also arrange this for you.
Be sure to ask for a refund of the security deposit after the deactivation in a very formal way. Some issuers automatically refund your deposit when you close the account. Meanwhile, some require manual application only. This is the most important part because if you do not do it right, you may never get your money back.
Your bank relationship determines the refund method. The issuer electronically transfers the money to your linked bank account. The non-bank issuers may mail a check to the user. The user is the one who receives the check at the pre-agreed address. The average processing period runs from the third to the tenth day.
-Before closing your account, make sure your details are updated. Keep your registered address updated. This will avoid delivery delays of the demand draft. A record of all your communications with customer service should be saved. This will be of help in case there are any issues.
After the refund is requested, keep checking your bank account. If it seems that the delay is too long, call customer service. Always have your account closure confirmation with you. It serves as evidence for your request.
The FASTag system simplifies refunds. Following all these steps ensures you receive your full security deposit refund quickly. Thus, the relationship with FASTag comes to an end.
Also Read: FASTag Fraud Alert: How To Protect Your Account From Online Scams
Share
What is the Best Time to Eat Curd for Maximum Health Benefits?
Gold Price in Pakistan: Indians Shocked to See Huge Difference in Rates
