Delhi: If you have an account with State Bank of India (SBI) then it is very important to know the new rules. SBI has said that the customers will face inconvenience in International Transaction if the PAN card is not linked to the account. This will mean that if you have not linked your PAN card link to your account, you will neither be able to send money abroad nor you will be able to use the ATM abroad.
Link PAN card to account sitting at home
Any SBI customer can link their PAN card with SBI account both offline and online. For online you have to go to www.onlinesbi.com and click on Profile-Pan Registration under My Accounts option. A new page will open. If your PAN account is already linked to your bank account then it will appear on your screen. If your account is not linked to PAN, then you will be asked for the account number to which you want to link your PAN card. After this, select your account number and also enter the PAN number. In this way, your PAN card will be linked to your bank account right from home.
How to offline PAN card link
If you do not use net banking, then you can go directly to the branch and update your PAN number in your account. In the bank, you have to fill a PAN updation form. Make sure to have a self-attested copy of the PAN card with the necessary documents. Write an application form to the Branch Manager regarding linking the PAN with your bank account. After this simple process, PAN number will be linked to your account.
Why PAN is required to be linked to the account
PAN is a 10 digit number, which is used to conduct economic transactions either privately or as a company. Through this, the government discount (subsidy) is also availed. If you make a transaction of more than 50 thousand rupees from your account, then it is necessary to have your PAN number linked. Apart from this, to get income tax return, the PAN number must also be linked with the account.