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The government has made it compulsory for all earning individuals and non-individuals to link PAN card with their operational bank accounts. Each and every bank is supposed to ask for the PAN if there is any new account opening. PAN is considered as the most important document for financial activities.
UCO Bank is one of the major government-owned commercial bank of India and it covers over 4000 service units and 49 zonal offices in the country providing major products such as- Private Banking, Mortgage, Investment Banking and others for all the UCO Bank account holders.
For any new user, who wants to get his account opened in UCO Bank, should provide his PAN for getting government subsidies and transacting above ₹ 50,000. PAN card is issued by the Income Tax Department of India under the supervision of Central Board of Direct Taxes.
If any account holder wants to link his PAN with the operational bank account offline, then he needs to follow these simple steps:
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Maximum time taken by the bank to link bank accounts is about 4-5 working days. After the processing is over, banks will send a confirmation mail/message on the account holder’s registered mobile number. If any of the account holders fails to do so, they have to face the consequences of paying tax on the interest earned on deposits.
Account holders who want to link their PAN with the UCO bank account without visiting the branch should follow the below-mentioned steps:
PAN card updation generally requires 4-5 working days to get it linked with the bank account. If not done, account holders can make a call to customer care executive or can visit the branch to get the issue resolved.