AePS Service: Use Aadhaar card like ATM, no hassle of remembering PIN and no need of OTP...
After the introduction of UPI in the country, digital transactions have become very easy and popular. But, you cannot deposit cash in your bank account through UPI. The solution to this problem is the Aadhaar Enabled Payment System (AePS). With the help of the AePS system, the user can withdraw money, check balance, deposit money, and transfer funds from Aadhaar to Aadhaar. This service allows the customer to do doorstep banking and avail of the basic facilities of the bank without visiting any bank branch. To use all these banking services, the user only needs his Aadhaar number and biometrics. This means no hassle of remembering the PIN and no risk of getting scammed by OTP.
In this system created by the National Payment Corporation of India (NPCI), digital transactions can be done by entering an Aadhaar number and verifying with a fingerprint. The special thing is that this method of transaction is also safe because it does not require giving bank details. It allows online transactions at ATMs, kiosks, and mobile devices through Aadhaar authentication.
Who can avail of the benefits?
The benefit of this service can be availed only by the Aadhaar holder whose Aadhaar number is linked to the bank account. If your account is not linked to the bank then you will not be able to transact money through this system. One Aadhar card can be linked to multiple bank accounts. You can use the Aadhaar Enabled Payment System (AePS) by visiting the banking correspondent or by calling him at home and avail of this service. Common Service Center (CSC) operators also provide this service. Banking correspondents are authorized by banks for digital transactions.
How to use this service?
If your bank account is already linked to Aadhaar then you do not need to do anything. You can call the banking correspondent to your home and do the transaction by entering your Aadhaar number in the mini ATM and scanning your finger or pupils. You can also do this work by visiting your nearest CSC center. If your bank account is not linked to Aadhaar then you will have to go to the bank branch.
You will have to go to the bank branch and give a photocopy of your Aadhar card. A form will also have to be filled out to link the bank account with Aadhaar. You will also have to give your mobile number in the form. After submitting the form, your bank account will be linked to Aadhaar and you will be able to use the Aadhaar Enabled Payment System (AePS).
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