Say goodbye to the hassle of remembering PINs and waiting for OTPs! Now, you can withdraw cash conveniently from the comfort of your home using your Aadhaar card.
In this digital age where mobile transactions reign supreme, the Aadhaar Enabled Payment System (AePS) brings banking services to your doorstep, revolutionizing the way you access cash.
Understanding Aadhaar Enabled Payment System (AePS)
The Aadhaar Enabled Payment System (AePS) allows you to perform a range of banking transactions, including cash withdrawal, balance inquiries, cash deposits, and fund transfers, all without the need for an ATM card.
With just your Aadhaar card, you can access these services from the convenience of your home, making banking more accessible and hassle-free.
Linking Aadhaar with Bank Account
To avail of the AePS services, it is essential to link your Aadhaar card with your bank account.
Once linked, you can use your Aadhaar number and biometrics for transactions. This initiative by the National Payment Corporation of India (NPCI) aims to simplify banking procedures and enhance financial inclusion.
How to Withdraw Cash using Aadhaar
To withdraw cash from your Aadhaar card, ensure that your Aadhaar is linked to your bank account.
Next, schedule a visit from a banking correspondent or a Common Service Center (CSC) operator to your home for biometric verification. Once verified, you can proceed with transactions using AePS.
Transaction Process
During the AePS transaction, the banking correspondent will input your Aadhaar number into the mini ATM machine and scan your biometrics, either fingerprints or iris.
Upon successful verification, you can perform banking activities such as cash withdrawal, deposits, or balance checks.
NPCI has set a maximum transaction limit of Rs 10,000 per AePS transaction, ensuring security and convenience for users.
