Linking PAN Card with Bank Account: If you have a bank account, this news is relevant to you. It is crucial nowadays to keep your PAN card details updated with your bank account, as the PAN card is used for numerous banking and tax-related activities. If your PAN details are not updated in your bank account, you can often do so online via internet banking or mobile banking apps, depending on the bank. However, the process varies by bank; some offer facilities via net banking, while others require updates through mobile apps or by visiting a bank branch.
Why is it important to link your PAN card with your bank account?
The PAN card contains essential information regarding the financial identity of both the bank and the customer. Keeping your PAN card updated in your bank account helps the bank maintain KYC and taxation records. Updating PAN details is mandatory if you engage in high-value transactions or use banking services that specifically require a PAN card.
Updating PAN card via internet banking:
If your bank offers an online facility to update PAN details, you can complete the process in a few simple steps:
First, visit the bank’s official website and log in to your internet banking account using your password.
After logging in, look for options such as ‘Profile’, ‘My Profile’, ‘Service Request’, or similar.
You will see options like ‘Update PAN’, ‘PAN Registration’, ‘Update Personal Details’, or ‘Link PAN’.
Enter your PAN number in the designated box, and verify it carefully while typing.
Once you enter all details, the bank will send an OTP to your registered mobile number.
After entering the OTP, the bank will verify your PAN details.
Upon successful verification, the bank will update your PAN details.
Updating PAN via mobile banking app:
If you use mobile banking, some banks also let you update PAN details directly through their apps. Now, open the bank’s official mobile app on your phone and log in.
Next, navigate to the section labelled ‘Profile,’ ‘Settings,’ ‘Personal Details,’ or ‘Service Request’ within the app.
Enter your PAN number and fill in any other required information.
Carefully review all the details, then click ‘Submit’; you may be required to verify the process via an OTP (One-Time Password).
How long does it take to update the PAN card?
The time required to update the PAN card depends on the bank’s specific processes and verification procedures. In some cases, the update happens quickly, while in other banks, the request may take considerable time to process.
Keep these points in mind
Exercise caution when updating your PAN card. Ensure you enter the PAN number correctly. Make sure your mobile number is updated with the bank. Do not share your OTP, net banking password, or ATM PIN with anyone. Use only the bank’s official website or mobile app to update it. If the online PAN update option is unavailable, contact your bank branch.
What if the online PAN update option is not available?
Most banks offer the facility to update PAN card details online. If you do not see an option to update your PAN card on your bank’s website or app, visit your bank branch for assistance. You can ask the bank official about the necessary forms and documents required to update your PAN card.