What are the Advantages & Disadvantages of Using FASTag

FASTag has changed the way we pay tolls on highways. It is an electronic toll collection arrangement implemented by the National Highway Authority of India (NHAI) to reduce congestion at toll plazas. Radio Frequency Identification (RFID)-based technology enables vehicles to pass through toll gates without stopping, thus making journeys smooth and hassle-free.

As the world becomes more contemporary in the move toward a cashless economy and digital transactions, FASTag has become increasingly obligatory for vehicles plying national highways. Though no technology is perfect, it also has some pros and cons. Let’s discuss the advantages and disadvantages of FASTag.

Advantages of Using FASTag

FASTag usage can benefit in many ways, from saving time to the convenience of automated payments at toll. Let us look at some of the major advantages of using FASTag:

1. Auto Deduction of Toll Charges

Of all the other benefits, the top one is the automatic deduction of toll charges with FASTag technology. Due to these FASTag automated charges, one can be free from the struggle of always having cash to pay toll plaza charges.

2. No Need to Carry Cash

FASTag technology eliminates the pressure of having cash to pay the toll plaza charge. This no-cash transaction is a great advantage for those driving long distances and encountering multiple toll plazas on their way.

3. Convenient Recharge Options

With ICICI Bank, there are various convenient recharge options for FASTag users. In just a few simple steps, customers can easily recharge their FASTag accounts. This process can be done with the ICICI Bank’s iMobile Pay app, net banking, or UPI Mandate. With digital options, you can ensure your FASTag account always has sufficient balance for toll plaza charges. Using ICICI Bank, you can get unique offers and features, enabling customers to have an auto-recharge option with standing instructions.

4. Save Fuel and Time

With FASTag technology, people can simply automate their toll payments without any struggle of waiting for a turn at the toll plaza and paying the amount manually.  One can avoid congestion and save time without stopping at a toll plaza. Using the FASTag services also saves fuel, as you don’t need to wait.

5. Online Account Management

ICICI Bank comes with an easy-to-use online portal allowing users hassle-free management of their FASTag accounts. Users can check their account balance, view transaction history, and have auto-recharge instructions. With this online account management, users can fully control their expenses and manage everything efficiently.

6. SMS Alerts

Another useful feature of FASTag with ICICI Bank is the SMS alert system. Users receive instant notifications on their registered mobile numbers for every toll transaction and account recharge. These alerts provide real-time updates on account activity, ensuring transparency and keeping users informed.

7. Enhanced Security

FASTag transactions are secure and reliable. The RFID technology used in FASTag ensures user payments are done quickly and accurately. Moreover, the ICICI Bank’s recharge option, including the UPI Mandate, gives secure and encrypted transactions, eliminating fraud and cyber risks

Disadvantages of Using FASTag

Although there are various benefits of using FASTag, it comes with certain disadvantages. Here are some of the challenges with using FASTag:

1. Technical Glitches

Despite the advanced technology, the FASTag system might have technical issues, such as malfunctioning RFID readers or network problems. With this glitch, there can be a delay in the process or inconvenience for users.

2. Initial Setup Cost

Although FASTag holds a substantial advantage in the long term, the cost of initial setup and charges to have an FASTag account can be costly, which might be a drawback for a few users.  In addition, unfamiliarity or new setup of FASTag can be an issue to learn or adapt to.

3. Recharging Issues

With FASTags, it is important to have sufficient balance in the account with no delay in recharge, as insufficient balance can cause issues and delays at toll plazas. It can also cause penalties or any additional charges. It is important to avoid inconsistency with recharge so that users do not face any challenges as toll plazas.

4. Limited Awareness and Adoption

With restricted awareness and adoption of FASTag in a few regions, there has been a major disadvantage for people. This lack of awareness and adoption can lead to a mix of FASTag and cash lanes at toll plazas.  With this mix of technology-based FASTag setup and manual transaction toll plazas, there is a possibility of a time-consuming delayed process, especially at peak hours with heavy vehicle rush.

5. Dependency on Digital Infrastructure

FASTag is completely dependent on a digital infrastructure. Regions with networks and poor internet connectivity have a high chance that the system's efficiency can be affected, causing delays and frustration for users.

How to Use FASTag with ICICI Bank?

To begin with FASTag through ICICI Bank, follow these steps:

Purchasing FASTag

• Check the ICICI Bank website or ICICI Bank’s iMobile Pay app.
• Select the FASTag option under the ‘Bill Pay, Recharge & FASTag’ section.
• Complete the application process.

Auto Recharge for Standing Instructions via Net Banking

• Log in to Retail Internet Banking (RIB).
• Go to ‘Buy/Recharge FASTag’ under ‘Payments & Transfers’
• Set Standing Instruction (SI) to automatically recharge your FASTag when the balance falls below the threshold.

Auto Recharge through ICICI Bank’s iMobile Pay app

• Visit ICICI Bank’s iMobile Pay app.
• Select the 'Bill Payment & FASTag' section and click on 'ICICI FASTag.'
• Enable 'Auto Recharge' for your linked vehicle by Clicking on ‘Set/Manage Auto Recharge’
• Enter the vehicle number, threshold amount (minimum Rs. 100), recharge amount (maximum Rs. 10,000), and savings account number.
• Confirm the setup.

Auto Recharge through UPI Mandate

• Log in to the ICICI Bank FASTag customer portal.
• Select ‘Payments’ → ‘Standing Instructions for UPI’.
• Enter payment frequency, Virtual Payment Address (VPA), top-up amount (minimum Rs. 100), and start date.
• Accept the authorization request in your UPI app.
• The UPI Mandate will trigger within 24 hours of accepting the pre-debit notification, automatically recharging the user's FASTag as per the set frequency.

Conclusion

FASTag has greatly improved toll payments on Indian highways, with ample benefits, such as automatic toll deductions, cashless transactions, easy recharge options, and saving time and fuel. The system also provides enhanced security and online account management. ICICI Bank enhances the FASTag experience by offering convenient recharge options through internet banking, the ICICI Bank’s iMobile Pay app, and UPI Mandate. Moreover, the bank’s online portal and SMS alerts give users complete control and transparency over their toll payments.