Withdraw money using Aadhaar and enjoy online banking services!
How do I withdraw money using my Aadhaar card? What are the advantages of AePS? What information does a customer need to transact with AePS? Know everything in detail.
There is no need for any other app. Kamal will be in one place this time! Payments can be made using your Aadhaar card. What exactly is the Aadhaar-based payment system? Basic banking services such as balance inquiries and cash withdrawals will be available through an Aadhaar-based payment system (AePS).
How do I withdraw money using my Aadhaar card?
AePS is an electronic payment system. Which makes payments using Aadhaar’s biometric authentication system. Aadhaar is a 12-digit identification number. Which is issued by India’s Unique Identification Authority (UIDAI). The AePS system now accepts payments via Aadhaar’s identification infrastructure.
It is built on the Unified Payment Interface, also known as UPI. The AePS model was created by banks. And it was created by NPCI. It enables online transactions via micro ATMs, kiosks, and mobile devices. Only those who have linked their bank account and Aadhaar number are eligible for this AePS service. It is known as an Aadhaar-enabled bank account (AEBA).
What are the benefits of AePS?
- You can know the account balance.
- You can withdraw money.
- You can deposit money.
- You can send money from Aadhaar to Aadhaar.
- C2B and C2G transactions
What does a customer need to transact through AePS?
- Aadhaar number;
- Bank name
- Biometric
- Type of transaction, if necessary.
The Benefits of AePS Customers will be able to get banking services delivered to their homes. Basic banking transactions are also possible. There is no need to visit a bank. There’s no need to keep a card or remember a PIN.
What Aadhaar card should be carried for AePS?
An Aadhar card is not required for AePS. However, in order to conduct transactions, the Aadhaar card must first be linked to a bank account.
What should a customer do if a transaction reports a failed status?
Notify the relevant bank of the bank account. The issue will be resolved by the bank using NPCI’s Dispute Management System.
Also Read: