All Indian citizens are issued the Aadhaar card, a government-issued identification document. It can also be used to make financial transactions through the Aadhaar Enabled Payment System (AePS), in addition to serving as an identification card. AePS, developed by the National Payment Corporation of India (NPCI), makes it simple and secure to move money between bank accounts by only requiring the Aadhaar number.
ATMs are available for use in AePS transactions, and the Aadhaar number, iris scan, and fingerprint are used for verification. Because it does not require the sharing of personal bank information, this system is regarded as a secure method.
However, in order to use this service, the Aadhaar card must be linked to the bank account. Money cannot be withdrawn through this system if it is not linked. Aadhaar cards can be linked to multiple bank accounts, and there is no need for an OTP or PIN for transactions.
You are able to carry out a variety of transactions with the assistance of AePS, including withdrawing the balance, checking the balance, depositing money, and transferring funds from one Aadhaar to another, among other things. Additionally, the system offers best finger detection, eKYC, and a mini bank statement.
To use the AePS system, just follow these easy steps:
- Visit the local Banking Correspondent.
- In the OPS machine, enter your 12-digit Aadhaar number.
- Choose the desired service, such as Balance Enquiry, Withdrawal, Deposit, or KYC.
- Enter the amount to be withdrawn and the bank’s name.
- Take the money and check the biometric transaction.
