How to Easily Update KYC in FASTag?

The Know Your Client (KYC) process is crucial for identifying and verifying customers, ensuring secure and legitimate transactions. This procedure is essential not only for financial services but also for FASTag applications. KYC involves providing personal details and documents to establish your identity, which helps in maintaining the integrity of transactions. If your KYC details change, it is vital to update them promptly to ensure continued compliance and service efficiency.

Steps to Update FASTag KYC:

1. Visit Your Bank or FASTag Issuer:

• In-Person Update: Go to the nearest bank branch or FASTag issuer office. Request a form specifically for updating your FASTag KYC details. Complete the form with the updated information and submit it. The bank or issuer will process the changes and update your FASTag account accordingly.

2. Contact Your Relationship Manager:

• Personal Assistance: Reach out to your Relationship Manager for guidance on updating your KYC details. They can provide you with the necessary steps and help facilitate the update.

According to the Reserve Bank of India (RBI) guidelines, you must submit any of the following Official Valid Documents (OVD) for KYC compliance:

• Valid Passport

• Driving License

• Voter’s ID

• Permanent Account Number (PAN)

• Aadhaar Card

• Job Card Issued by NREGA (signed by a State Government official)

Additionally, you will need to provide a copy of your vehicle’s registration certificate (RC).

If your FASTag has been active for over two years and you have not updated your KYC details, you will receive reminders to do so. Follow these steps to upgrade:

1. Access the IHMCL FASTag Portal:

- Visit the Indian Highway Management Company Limited (IHMCL) FASTag portal.

2. Log In:

- Use your registered mobile number and password or OTP to log in.

3. Update KYC Information:

- Navigate to ‘My Profile’ on the dashboard. Check your current KYC status and details. Click on ‘KYC’ and select ‘Customer Type’. Fill in the required fields and upload your ID and address proof documents.

4. Processing Time:

- Your KYC update request will be processed within 7 working days.

• Online KYC Update: This process applies to FASTag issued by the National Highways Authority of India (NHAI). NHAI FASTag can be purchased at toll plazas, petrol pumps, or online. Linking a bank account to the FASTag prepaid wallet can be done after obtaining the tag.

• Impact of KYC Status:

- Minimum KYC: Wallet value cannot exceed Rs 10,000 in any month and Rs 1 lakh in a financial year.

- Full-KYC: Maximum wallet balance can be Rs 1 lakh.

• Non-KYC Consequences: Failure to update KYC after two years will prevent wallet recharges. You can still use the existing balance, but once depleted, your account will be blocked.

*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.