New Delhi: Aadhaar Card issued by the Unique Identification Authority of India (UIDAI) is an important document. The card is necessary for getting almost all government services. It contains several data as the 12-digit number, person’s name, date of birth, gender and more.
The Aadhaar card serves not only as an identity card but also facilitates financial transactions. Through the Aadhaar Enabled Payment System (AePS), one can perform actions like withdrawing money, depositing funds, and transferring money to other accounts. The Aadhaar Enabled Payment System (AePS) is developed by the National Payments Corporation of India (NPCI).
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AePS is built on the Unified Payment Interface (UPI) and follows a bank-based model that enables transactions using an Aadhaar number and fingerprint authentication. Its key advantage is that it doesn’t require bank account details, OTP, or PIN. Linking your Aadhaar card to your bank account is mandatory. A single Aadhaar card can be linked to multiple bank accounts.
Services Offered by AePS:
• Balance Check: You can check your account balance.
• Cash Withdrawal: Withdraw funds directly from your bank account.• Depositing Money: Deposit funds into your bank account.
• Aadhaar to Aadhaar Fund Transfer: Transfer money between accounts using Aadhaar numbers.
• Payments: Make transactions through the Aadhaar-based payment system.
To use AePS, visit a banking correspondent or a Common Service Center (CSC) operator. These correspondents are authorised by banks to conduct digital transactions. You can also request a correspondent to visit your home to access this service.
This facility allows customers to perform essential banking activities without needing to visit a branch.
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