NIC ASIA Bank urges customers to update PAN & email details

KATHMANDU: NIC ASIA Bank has requested all its valued customers to update their Permanent Account Number (PAN) and email address in their bank accounts as part of its ongoing effort to enhance efficient and compliant banking services.

According to the bank, details of tax deductions made from customers’ accounts must be linked with the Government of Nepal’s PAN system as per the “Income Tax Act 2058.”

Customers can easily update their PAN through the bank’s portal panupdate.nicasiabank.com or via the ‘PAN Update’ option available in the NIC ASIA MoBank mobile application.

Additionally, customers may also visit any branch of NIC ASIA Bank to submit a PAN update request in person.

The bank stated that PAN information is essential for recording tax deducted from deposit interest under the E-TDS system.

Once the PAN is updated, customers’ tax-deduction statements will automatically be recorded under Schedule 10 in the Inland Revenue Department’s system.

This will allow customers to conveniently obtain their Tax Deduction Certificate and Tax Clearance Certificate without having to visit the bank physically.

NIC ASIA Bank has further clarified that if customers fail to update their PAN, resulting in their interest tax not being recorded in the E-TDS system and requiring later adjustments, the bank will not be responsible.

The bank has also urged customers to update the email address linked to their account. Customers can update their email through the bank’s Video KYC portal (https://www.nicasiabank.com/video-kyc/) or by selecting Change Email in the My Profile section of the MoBank app. Email updates can also be done at any NIC ASIA branch.

For customers who have previously submitted their PAN but still find their tax details missing from E-TDS, or those facing issues with email updates, the bank has advised contacting the nearest branch or calling the Customer Contact Center at 1660-01-77771 or 01-5970101.