Pan Card Link to Bank Account

Pan Card Link to Bank Account

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Ensure that you are not at the risk of not receiving refunds.

Key Takeaways

  • The PAN card is a significant identity proof documents you need as an Indian citizen.
  • It is especially critical if you are a tax-paying Indian.
  • Link your PAN card to your bank account is mandatory.
  • You can Link Pan card to bank account offline by visiting your bank branch.
  • You can also link PAN card to bank account online via internet banking, mobile apps, phone and SMS banking.

Introduction

A PAN card is a Government-of-India authorised and recognised document bearing your Permanent Account Number. It is provided by the Income Tax (I-T) department to every income taxpayer of the country. The PAN card is mandatory for almost all high-value financial transactions. The Government has issued a mandate stating that all Indian citizens must link the PAN to their bank account. You can link all types of bank accounts to your PAN – be it savings, current, checking, cash, or overdraft accounts. The primary reason for linking your PAN card with a bank account is to get tax refunds credited directly to your bank account. Failure to link the two will make you ineligible to receive tax refunds. Let us find out more about PAN link with bank account in this article.

How to link PAN card to bank account?

There are multiple methods in which you can complete the PAN link with bank account process. They are as follows:

  • Link via the offline mode at your bank branch
  • Link via mobile banking
  • Link via Internet banking
  • Link by phone banking
  • Link through SMS banking

You may choose any of the methods as per your comfort.

How to link PAN Card to bank account with branch?

To start the process of PAN card link to bank account at a branch, you will have to physically visit the branch of your bank and follow the steps mentioned below:

  1. Visit the home branch of the bank in which you hold your account.
  2. Ask a bank representative to provide you with the PAN Card Update Form (KYC Form).
  3. Ensure that you fill all the relevant details of the form correctly and review it before submission.
  4. Submit the duly filled form and a self-attested photocopy of your PAN Card. You may also be asked to write a letter to your branch manager requesting to update PAN in your account.

It typically takes the bank 48 hours to complete the offline PAN to bank account linking process. Note that each of the different processes of linking your PAN card with your bank account may vary slightly, based on the bank with which you have your account.

How to link your PAN Card with bank account through internet banking?

The process of PAN link with bank account can be completed online as well, from the comfort of your home. You just need to follow these steps mentioned below:

  1. Log in to the internet banking portal of your bank and sign in.
  2. Go to your profile; locate the menu options such as Service Requests, Services, PAN Registration or other such variations and click on the appropriate option.
  3. Next, you should select PAN Card Update, Link Your PAN, Update PAN, or other similar variations.
  4. Enter your PAN Card number. The system may also prompt you to enter your date of birth as mentioned on the PAN Card, along with your registered e-mail ID.

Once you have entered the correct details, your PAN and bank account will be linked to your bank account within 2 to 7 working days.

How to link PAN Card to bank account through mobile app?

You can use another mode of initiating PAN card link to bank account via your mobile app. Under this method, you will have to download the Mobile App of your bank and register to proceed further. Once you download the app, you can follow these steps mentioned below:

  1. Log in to the mobile banking account and locate the 'Service and Support' section on the home page. There could also be another variation of this option.
  2. Next, select the 'Insta Services' section or a similar variation of the process on your app.
  3. In the Insta Services section, you need to select 'Profile' to update and link PAN and bank account.
  4. Select' Update PAN' and fill in the PAN and other details in the section provided for the same.
  5. Accept the terms and conditions to complete the process and verify all the details filled in before clicking on 'Update'.

You will receive an SMS or e-mail notification when your PAN card is successfully linked to your bank account.

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How to link your PAN Card with your bank account through phone banking?

In order to link your PAN card with any bank account by phone banking, you will need to call the customer care hotline of the bank and follow the instructions. Typically, you have to follow these basic steps:

  1. Call the toll-free customer care centre of your bank.
  2. Listen carefully to the IVR menu and select the suitable menu options for the pan card link to the bank account.
  3. You will be then be connected to a customer care executive (CCE), whom you must inform about your need to link your PAN to your account.
  4. The CCE will ask you some questions to verify your identity, such as your name, RMN, e-mail, account number and so on. Ensure you have these details handy before calling the helpline.
  5. Finally, you will have to provide your PAN Card number to the CCE, who will initiate and complete the linking process.

At the end of the call, you will get a service request number and confirmation. If the numbers are not seeded to your account within seven working days, you will need to re-check with the bank.

Can my PAN Card be linked to bank account through SMS?

Yes, certain banks allow you to update your PAN Card by simply sending an SMS from your registered mobile number. Typically, you only need to enter your PAN and Customer ID numbers and send the SMS to a specific number provided by your bank. The format and SMS numbers vary from bank to bank and can be found on the website of each bank. You could also call up the customer care helpline to verify the phone number to send the SMS.

How to check PAN card link with a bank account?

The process of how to check PAN card link with a bank account is simple and straightforward. You need to log in to the e-filling website of the Income Tax department and follow these three steps.

  1. Locate the 'Verify your PAN details' on the left side of the IT website under the 'Quick links' tab.
  2. Click on 'verify your PAN details' and fill in the details such as your PAN number, name, date of birth, and PAN card status. Enter the captcha code and click on 'submit'.
  3. The system will display the status of your Pan Card linking with your bank account.

With these simple steps, you can check the pan card link with bank account.

Conclusion

You must link your PAN to your bank account as refunds are currently handed out only via e-mode. If your account is not linked to your PAN, you will not be able to receive your refunds. Choose from any of the options mentioned above at your convenience and complete the linking process. Also, note that if your PAN Card is not linked with a bank account, opening a fixed deposit account, or depositing cash more than INR 50,000 is impossible. It will further result in TDS getting deducted at 20% if the interest amount of the FD account crosses INR 40,000, which is double the current 10%.

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