Detailed Process of Change of  Pension Bank Account and Branch on SPARSH Portal

how to change pension bank account through sparsh

There may be a requirement  to change your Pension bank Account. To change your pension bank account , you need to open a new account at a suitable Bank Branch and must obtain a cheque book and then put the necessary data on SPARSH Portal. If you already have an old account, you may also opt for it. Once your cheque book is ready, follow the steps below to change your account  –

Step 1  :  On the very first days of the first week of the month, log in SPARSH Portal, open Manage Profile, click Bank Details and edit Account Number and Branch IFSC Code. 

Click next at the bottom and it will automatically pick up new branch name.   Now attach a scan of the canceled cheque as first preference or attach scan of the first page of the bank pass book. In case, a scan of the first page is attached, it should be clear, legible and should bear the stamp of the Bank.

Step 2 : On approval of the service request, pension will start crediting in a new account. Remember, do not hurry in closing the previous account as the new account has reverted back to the previous account number in some cases due to technical problems with SPARSH. Wait for at least two clear credits of pension in the new account before closing of the previous account.

In case, a branch of the same bank needs to be changed, transfer the account to the new branch on the very first working day of the first week of the month. In Manage Profile, follow the same procedure as in the first para and change branch IFSC code.

Instruction :  Ensure that your no service request is pending on SPARSH portal while planning for change of account number or Branch IFSC code otherwise you will not be able to open your Manage Profile to edit the account number. Also ensure that this procedure from your side is completed within the first week of the month to avoid any complication for your pension for that month.

Must Note :  What will happen if the pension is not being credited to the new account,  will it still continue to be credited in the old account or not or will any new problems be encountered ?

 Pension will be credited to the new account. But in a few cases, it reverted back to the old account. So don’t worry, it will be corrected on grievances.

Ad

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top