Aadhaar Enabled Payment System was created to enable bank customers to use Aadhaar to identify themselves and access their Aadhaar-enabled bank accounts. The AEPS allows bank account holders to perform basic banking transactions such as cash deposit, cash withdrawal and balance enquiry. They can also obtain a mini-statement.
To use AEPS transactions, you will need to seed your bank account using your Aadhaar number. AEPS permits bank-to-bank transactions at PoS (MicroATM).
Uses
You can do the following with AEPS:
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Check your account balance
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Transfer of Aadhar-to-Aadhar funds
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Cash withdrawal
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Cash deposit
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AEPS Benefits: Shop at fair prices
Benefits
Aadhaar Enabled payment System allows you to withdraw money from your bank account. It has the following benefits:
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The bank correspondent can perform financial and non-financial transactions on behalf of the account holder.
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Any bank's banking correspondent can perform the requested transaction.
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The signature and debit card are not required.
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Because no one can steal your fingerprint, it is secure.
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With the micro-POS, banking correspondents can reach remote rural areas.
AEPS Transaction Key Steps
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You can walk into the micro-ATMs or to the bank correspondent.
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Please provide your bank name, Aadhaar number and bank account information.
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Select the transaction that you want to complete and click on the button.
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You will receive a slip of paper after a successful transaction.
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The fingerprint must be provided to the scanner