What is AePS?
Aadhaar Enabled Payment System Known as AEPS. In other words, if you have a bank account with any bank and the same bank account is link with Aadhaar then you can visit any AEPS terminal to withdraw an amount from your bank account. This service is available for all who have a bank account linked with Aadhaar.
How to use the AEPS system?
To use the AEPS system you have to be an Aadhaar linked bank account. When you want to withdraw any amount from your bank account then you have to visit the nearest or any AEPS terminal with your Aadhaar number. To withdraw an amount you have to provide your Aadhaar number and bank name then terminal personnel will enter the details in our system after this person will say for confirmation by giving your fingerprint authentication on a biometric device. After successful biometric confirmation, your requested amount will deduct from your bank account and collect from the cash from the same terminal.
Benefits of AEPS?
- You can withdraw a pre-fixed amount from anywhere without visiting a bank branch.
- You do not have to travel a long distance to access baking services. Cash withdrawal, Balance inquiry, Mini statement are available through the AEPS terminal.
- AEPS system enables banking services in remote areas.
- AEPS system enables employment.
- Now, few AEPS companies accept deposits from the AEPS terminal.
- The most likely benefit of AEPS makes enable banking services available 24x7.
AEPS system has limitations for a day and per month. The below available table gives you detailed knowledge of the AEPS withdrawal limit of different banks.
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| All Bank AEPS Withdrawal Limit |