Best 5 Replacements For PayTM Fastag

For someone using a Paytm fastag and Paytm wallet , you may be well aware  about the troubles of Paytm with RBI.

The trouble in paradise called PayTM.

RBI’s action against Paytm Payments Bank In its latest action, RBI has asked the Paytm Payments Bank not to take deposits, credit transactions, top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and NCMC cards, among others after February 29, 2024. The HINDU

How to close your Paytm Fastag and get 150 refund ?

To close your Paytm FASTag account, you typically need to follow these steps:

  1. Login: Visit the Paytm website or open the Paytm app on your smartphone and log in to your account.

  2. Navigate to FASTag Section: Once logged in, navigate to the FASTag section. This is usually found under the “Services” or “More” tab on the app or website.

  3. Select Close Account: Look for the option to close or deactivate your FASTag account. It might be labeled differently, so keep an eye out for any options related to closing or deactivating.

  4. Follow Instructions: Paytm will likely provide instructions on how to proceed with closing your account. This may involve filling out a form, providing some information, or confirming your decision.

  5. Confirmation: After submitting your request to close the FASTag account, Paytm should provide confirmation that your account has been successfully closed. Keep an eye out for any confirmation messages or emails.

  6. Balance Refund: If there is any balance remaining in your Paytm FASTag account, Paytm should refund it to you. This refund process may take some time, so be patient.

If you encounter any difficulties or have specific questions about closing your Paytm FASTag account, you can reach out to Paytm customer support for assistance.

Here is a list of top 5 Fastag Services according to ease of use.

1.QW Wallet Fastag

QW Wallet is a digital payment platform in India that also offers FASTag services. Here are some details about QW Wallet FASTag:

  1. Issuer: QW Wallet is the issuer of the FASTag, providing customers with a convenient way to pay tolls electronically on national highways across India.

  2. Features: QW Wallet FASTag comes with features like instant online recharge, real-time transaction alerts, and online tracking of transactions and balances.

  3. Compatibility: QW Wallet FASTag is compatible with all toll plazas across India that accept FASTag payments, making it convenient for users to travel seamlessly without cash transactions at toll booths.

  4. Recharge Options: Users can recharge their QW Wallet FASTag online through the QW Wallet app or website, as well as through various online payment platforms and banking apps.

  5. Customer Support: QW Wallet provides customer support services to assist users with any queries or issues related to their FASTag accounts.

  6. Fees: Like other FASTag providers, QW Wallet may have associated fees for issuance, reissuance, and other services. Users should check the fee structure on the QW Wallet website or app for the most up-to-date information.

2.Amazon ICICI FASTag

Amazon ICICI FASTag is a collaboration between Amazon and ICICI Bank to provide FASTag services to users. Here are some of its features:

  1. Online Purchase: Users can purchase Amazon ICICI FASTag online through the Amazon website or app, making it convenient to acquire the tag from the comfort of their homes.

  2. Seamless Toll Payments: Once activated, the FASTag enables users to make seamless toll payments at toll plazas across India without the need for cash transactions.

  3. Automatic Recharge: Amazon ICICI FASTag offers automatic recharge functionality, ensuring that users always have sufficient balance for toll payments without the need for manual intervention.

  4. Real-time Transaction Alerts: Users receive real-time alerts for all FASTag transactions, providing them with instant notifications of toll payments and helping them keep track of their expenses.

  5. Compatibility: Amazon ICICI FASTag is compatible with all toll plazas across the country that accept FASTag payments, allowing users to travel smoothly on national highways.

  6. Online Account Management: Users can manage their Amazon ICICI FASTag accounts online through the Amazon website or app, where they can check their balance, view transaction history, and perform various account-related activities.

  7. Customer Support: Amazon ICICI FASTag provides customer support services to assist users with any queries or issues related to their FASTag accounts.

3.HDFC Bank  FASTag

HDFC Bank offers FASTag services, providing customers with a convenient way to make electronic toll payments on national highways across India. Here are some key features of HDFC FASTag:

  1. Online Application: Customers can apply for HDFC FASTag online through the HDFC Bank website or app, making it convenient to acquire the tag from anywhere with an internet connection.

  2. Seamless Toll Payments: Once activated, HDFC FASTag enables users to make seamless toll payments at toll plazas across India without the need for cash transactions, thereby reducing wait times and improving travel convenience.

  3. Automatic Recharge: HDFC FASTag offers automatic recharge functionality, ensuring that users always have sufficient balance for toll payments. This feature helps avoid disruptions in toll payments due to insufficient balance.

  4. Real-time Transaction Alerts: Users receive real-time alerts for all FASTag transactions, providing them with instant notifications of toll payments and helping them keep track of their expenses.

  5. Compatibility: HDFC FASTag is compatible with all toll plazas across the country that accept FASTag payments, allowing users to travel smoothly on national highways without the hassle of carrying cash.

  6. Online Account Management: Customers can manage their HDFC FASTag accounts online through the HDFC Bank website or app. They can check their balance, view transaction history, recharge their account, and perform various account-related activities conveniently from their devices.

  7. Customer Support: HDFC Bank provides customer support services to assist users with any queries or issues related to their FASTag accounts. Users can reach out to HDFC Bank’s customer service channels for assistance and support.

These features make HDFC FASTag a convenient and efficient solution for electronic toll payments, enhancing the travel experience for users on national highways in India.

4.Park Plus IDFC Fastag

IDFC Bank’s FASTag offers several features:

  1. Electronic Toll Collection: FASTag enables automatic deduction of toll charges while passing through toll plazas, eliminating the need for cash transactions.

  2. Online Recharge: Users can easily recharge their IDFC Bank FASTag online through various channels such as internet banking, mobile banking, UPI, etc.

  3. Validity: The IDFC Park FASTag has a validity of 5 years from the date of issuance.

  4. SMS Alerts: Users receive instant SMS alerts for transactions, low balance, recharge confirmation, etc., ensuring timely updates on their account activity.

  5. Online Portal: IDFC Bank provides an online portal where users can manage their FASTag account, view transaction history, check balance, etc.

  6. National Coverage: IDFC Bank’s FASTag is accepted at toll plazas across the country, making it convenient for users to travel seamlessly on national highways.

  7. Discounts and Offers: Users may also be eligible for discounts and cashback offers on toll payments made through their IDFC Bank FASTag.

5.Airtel Payments Bank Fastag

Airtel FASTag offers several features to streamline toll payments and enhance the travel experience:

  1. Electronic Toll Collection: Airtel FASTag enables automatic deduction of toll charges at toll plazas, eliminating the need for cash transactions.

  2. Online Recharge: Users can easily recharge their Airtel FASTag online through various channels such as the Airtel Thanks app, website, internet banking, mobile banking, UPI, etc.

  3. Validity: Airtel FASTag has a validity of 5 years from the date of issuance.

  4. SMS Alerts: Users receive instant SMS alerts for transactions, low balance, recharge confirmation, etc., ensuring timely updates on their account activity.

  5. Online Portal: Airtel provides an online portal where users can manage their FASTag account, view transaction history, check balance, etc.

  6. National Coverage: Airtel FASTag is accepted at toll plazas across the country, making it convenient for users to travel seamlessly on national highways.

  7. Discounts and Offers: Users may also be eligible for discounts and cashback offers on toll payments made through their Airtel FASTag.

MAGNUS Burgundy for those who are not into Big Spending ?

A Background Story (that happened).

I am an axis bank savings (burgundy) account holder since past 3 years. Initially had a couple of basic cards like Axis Ace , MyZone and Axis Flipkart with a low combined limit of 1.5 Lakhs ; and i was content with it as i was not an avid credit card user.

While the limits on my Axis cards were stagnant , ICICI was actually quite “Dil Se Open ” to me and gave me a generous Limit Enhancement from 3.2 Lakhs to 5.1 Lakhs in December 2022. This alone made me eligible to apply for Magnus Card on card for card basis.

My Burgundy status and RM were quite happy to put it forth and Axis approved it with flying colours. They matched the limit of 5.1 Lakhs on my Magnus.

I Got Axis Magnus First Year Free (with 10,000 Tata Cliq Vouchers) in Jan 2023 , and it really felt like a Double Bonus.

So i Started using the card since Feb 2023 , and used it well till August 2023 until its devaluation, that is 7 months of 25K Magnus milestones. This went out to be 30000×7=210000 ER Points = 168000 Air Vistara Miles .

This is as Good as A Rupee for a Mile. So the total benefits that i got out of a Free Credit Card was 168000+10000= Rs 1.78 Lakhs !!

But ! after the Magnus Card was devalued , it didn’t made any sense to keep it as i have to pay for the renewal fee in Jan 2024 without getting any benefits.

Then again , as the fate had in store for me , Axis came up with Magnus For Burgundy. A LTF card for burgundy customers with reduced benefits but sitll having 5:4 points to miles transfer ratio.

I was pre approved and my Magnus was upgraded to LTF Magnus Burgundy , thus i escaped paying renewal fee for Magnus (again !)

But !! The problem is , although i was able to spend well all those 170000 Vistara Miles , without those Juicy 25000 points a month milestone , using Magnus for a spend of below 2 Lakhs a month does not look worthwhile right now.

So , if you are like me who don’t have that kind of spends and do not like to manufacture spends , Magnus Burgundy may not find a permanent spot in your wallet.

But , since it is a Premium card that is LTF and comes with so many added perks , One can and should use it at places where it gives EXTRA Accelerated Rewards.

Here are some points about the Burgundy Magnus that , if you Keep in mind , will serve you well. You can also use to for those month of year where you are sure to reach 2 Lakh worth of spends.

 

Perks of keeping LTF Magnus Burgundy.

Earn 12 base EDGE Reward Points per Rs. 200 on spends up to Rs. 1.50 Lakhs and earn 35 accelerated EDGE Reward Points per Rs. 200 on incremental spends above Rs. 1.50 lakhs in a calendar month.

Eligible Spends = [Total Spends in a calendar month – Rs. 1.50 lakhs – Spends on Exclusion list (ref point 4.) – Spends on Travel Edge up to Rs. 2 Lakhs – Rental Payments (incremental spends above Rs. 50,000)] * [23 EDGE Reward Points/Rs.200]

Accelerated Edge Reward Points criteria:

  1.  Other Axis Bank Accelerated Program like 5X EDGE Rewards on Travel EDGE and upto 5X multiplier EDGE reward points on spending on Grab Deals and GYFTR will be calculated on Base EDGE Reward points i.e. 12 Edge Reward points per Rs. 200 eligible spends.
  2. Spends upto Rs. 2 Lakhs on Travel EDGE and spends on Grab Deals, GYFTR will not be calculated for Total Eligible Spends.
  3. Spends on rental/Real Estate transactions of upto Rs. 50,000 in a calendar month will be considered for Total Eligible Spends. Any amount over and above Rs. 50,000 in a calendar month will not be considered in calculation of Total Eligible Spends

Added Benefits of keeping a LTF Magnus Burgundy Credit Card

Travel and Stay

  • Welcome Annual Benefit: not applicable for LTF upgrade from magnus to magnus burgundy.
  • Airport Concierge Service: Get eight complimentary end to end VIP services at the airport
  • International Lounge Access: Get unlimited complimentary international lounge visits as well as eight additional guest visits each year with the Priority Pass card.

Lifestyle and Entertainment

  • BookMyShow Benefits: BOGO Upto Rs.500 / Purchase one movie or non movie ticket and receive up to Rs.500 discount on the second ticket. Upto 5 times in a month
  • Dining Delights: Get up to 40% discounts at more than 4,000 restaurants across the country
  • Extraordinary Weekends: Customized experiences globally with extraordinary weekends

Health and Wellness

  • Medical Concierge Program: Virtual health assistance such as tele consultation, home quarantine programs, health coaching, personalized oncology care, and more
  • Second Medical Opinion: Get medical opinion from experts from a group of world class specialists at leading institutions.
  • Preventive Healthcare: Benefit from special preventive healthcare packages and a wide range of privileges with SRL diagnostics, Dr. Lal PathLab and Metropolis
  • Global Travel and Medical Assistance: Cardholders can travel safely with inoculation and visa requirements details, emergency evacuation, and legal and medical service referrals.

Usage Scenarios for Magnus Burgundy.

How to spend less and Get more value out of Magnus Burgundy ?

What are your thoughts ?