How do I open an AePS account ?
Aadhaar Enabled Payment System (AEPS) is not a separate account or service, but rather a payment system that is linked to your existing bank account. Therefore, to use AEPS, you need to have a bank account and link it with your Aadhaar number.
Here are the steps to link your bank account with your Aadhaar number for using AEPS :
- Visit your bank branch and fill out the Aadhaar linking form.
- Provide your Aadhaar number, bank account number, and other relevant details as requested.
- Provide your biometric details such as fingerprints or iris scans for authentication purposes.
- Once your Aadhaar is successfully linked with your bank account, you can use AEPS services such as cash withdrawals, balance inquiries, and funds transfers.
How do I withdraw money from AePS ?
- Visit a nearby AePS-enabled banking agent or ATM.
- Select the "AePS" option on the screen.
- Enter your Aadhaar number.
- Choose the type of transaction, i.e., cash withdrawal.
- Enter the amount you want to withdraw.
- Provide your biometric details for authentication purposes, such as fingerprint or iris scan.
- Once your authentication is successful, the amount you requested will be dispensed from the ATM or handed over to you by the banking agent.
It is important to note that there may be a limit on the amount of cash that can be withdrawn per transaction or per day, as determined by your bank. You should also ensure that you have sufficient balance in your account to cover the withdrawal amount and any associated charges.
AEPS provides a convenient and secure way to withdraw cash from your bank account using your Aadhaar number and biometric authentication. It is a popular payment system in India, especially in rural areas where traditional banking services may not be available.
Which Aeps service is best ?
What is the limit and charges for AEPS transaction ?
- The maximum transaction limit for AEPS cash withdrawal is usually Rs. 10,000 per transaction, subject to a daily limit of Rs. 20,000 per customer.
- The maximum transaction limit for AEPS balance inquiry and funds transfer is usually Rs. 10,000 per transaction, subject to a daily limit of Rs. 25,000 per customer.
- The transaction charges for AEPS may vary from one bank or financial institution to another. Some banks may offer AEPS transactions free of charge, while others may charge a nominal fee.
- The charges for AEPS cash withdrawals are usually lower than those for using debit cards at ATMs.
- The charges for AEPS balance inquiry and funds transfer may also vary depending on the type of account and the transaction amount.
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