How to Easily Update KYC in FASTag?
16 October, 2023
The Know Your Client (KYC) process is an important onboarding process that allows entities to identify and verify their customers. When you avail of a financial service, you need to provide your KYC details. This is also applicable for FASTag applications. By completing the KYC process, you provide important personal information and documents that help establish your identity and ensure secure transactions. If there is a change in your KYC details, it is best you update the details with the bank at the earliest. Here’s how you can update your FASTag’s KYC details.
How to update KYC in FASTag
You need to request the FASTag issuing bank to update your KYC details. You can visit the nearest bank branch and request for a form to update FASTag KYC. Fill out the application form and provide the updated details. The bank will update the new information to your FASTag Account at the earliest.
You can also reach out to your Relationship Manager and learn about how you can update your KYC in FASTag.
KYC documentation
Per Reserve Bank of India (RBI) guidelines, you need to submit any of the following Official Valid Documents (OVD) to be KYC-compliant:
Valid passport
Driving license
Voter’s ID
Permanent Account Number (PAN)
Aadhaar
Job card issued by the NREGA and signed by an official of the State Government
Along with the KYC documents, you also need to submit your vehicle’s registration certificate (RC) copy.
Proceed to upgrade from non-KYC customer to full-KYC customer
At the end of two years since activating FASTag, you will receive reminders for updating KYC, if you haven’t done that during the application process. Here’s how you can update your KYC details in this case:
Visit the Indian Highway Management Company Limited (IHMCL) FASTag portal.
Log in using your registered mobile number and password or OTP.
Select ‘My Profile’ from the menu on the dashboard. Here, you can check your KYC states and the details that were submitted at the time of registration.
Click on ‘KYC’ and select ‘Customer Type’.
Fill out the mandatory fields and submit the ID and address proof documents.
Your KYC will be processed in 7 working days from the date of submission of the request to update KYC.
Note that online KYC update for FASTag is applicable to National Highways Authority of India (NHAI) FASTag. These can be purchased at toll plazas, petrol pumps or online, and they are not linked to any bank. You can initiate the process of linking bank account to the FASTag prepaid wallet after obtaining the tag.
Toll amounts depend on your vehicle class (i.e., the category to which your vehicle belongs) and the toll plaza used. And KYC compliance is mandatory as per regulatory guidelines. So, it is in your best interest to update your KYC details to enjoy a seamless and secure experience with your FASTag account.
If you fail to upgrade your KYC status in FASTag post completion of two years as a non-KYC customer, you will not be able to recharge your wallet. However, you can continue to use the existing balance. Once you exhaust the existing balance, your account will be blocked.
KYC and FASTag recharge limit
The status of your FASTag KYC impacts the recharge limits.
In the case of minimum KYC, the value of the FASTag wallet in any month should not exceed ₹10,000/-. Also, the total amount loaded in the wallet during a financial year should not exceed ₹1 lakh.
In the case of full-KYC, the maximum amount in the wallet at any given point in time can be ₹1 lakh.
The status of your FASTag Account will be full-KYC when you link your Savings Bank Account with it.
Bottom line
Remember, maintaining up-to-date KYC records not only ensures smoother transactions and higher transaction limits, but also safeguards you from potential financial fraud. For further assistance, feel free to contact HDFC's 24/7 toll-free customer care number (1800 1600 / 1800 2600) or visit the HDFC FASTag portal for more information. To apply for HDFC Bank FASTag, get started here.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Any information or charges mentioned above are subjected to change. Please connect with the HDFC Bank team to know the latest information.
