The process of changing the bank associated with FASTag is becoming simpler thanks to the new OneTag service developed by the National Highways Authority of India (NHAI). Previously, if an owner needed to change the bank for their FASTag, they had to purchase a new tag and remove the old sticker from the car's windshield.
NHAI has launched this new feature called OneTag, which allows users to easily change the bank linked to their FASTag. This mechanism is similar to the procedure for transferring a mobile number, where the number remains the same but the service provider changes.
The Minister of Central Transport and Highways, Nitin Gadkari, introduced this new possibility at the Global Fintech Fest in Mumbai. Until now, vehicle owners had to buy a new FASTag to change the issuing bank, which also involved removing the old tag from the car. The OneTag service is designed to simplify this procedure, allowing the owner to keep the existing FASTag sticker and only change the associated bank or issuer.
To transfer FASTag to a new bank, the vehicle owner must first log into the Rajmarg Yatra application. Then, they need to enter the vehicle registration number to check if the car is eligible for FASTag portability. If the vehicle meets the requirements, the current FASTag bank will send a six-digit code to the user's registered mobile number for verification. After that, the user selects the new issuing bank. The transfer occurs after the client verification and wallet connection in the new bank are completed.
After completing this entire procedure, the FASTag identifier linked to the vehicle registration number will not change. Consequently, the owner will not have to affix a new FASTag sticker; they can continue using the old tag. However, payments for toll roads will be made using the new bank's account after the transfer.
Yes, FASTag can be transferred to another bank again, but this requires waiting six months. According to NHAI data, after the portability process is complete, the old bank or issuer will close the existing FASTag wallet and refund the remaining amount. Following this, a cooling-off period of six months begins, during which a re-transfer to another bank is not possible. The next opportunity for transfer will only arise after these six months.
Currently, the FASTag portability feature is available only for certain banks and issuers. According to the Rajmarg Yatra application, users can perform the transfer through State Bank of India, Airtel Payments Bank, Axis Bank, City Union Bank, Federal Bank, HDFC Bank, IndusInd Bank, Indian Overseas Bank, Karur Vysya Bank, and ICICI Bank.
NHAI notes that OneTag will not only simplify the bank change for vehicle owners but also improve the management of the entire FASTag lifecycle. Reducing the need for constant creation of new FASTags will decrease the costs of tag production and delivery, contributing to a more advanced FASTag ecosystem.