Here is How to Withdrawal Cash, Check balance, and obtain a mini statement using Aadhaar-enabled Payment System

Aadhaar-enabled Payment System (AePS) is a bank-led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.

AePS allows you to do six types of transactions.

• Cash Withdrawal
• Cash Deposit
• Balance Enquiry
• Aadhaar to Aadhaar Fund Transfer
• Mini Statement
• eKYC – Best Finger Detection/IRIS Detection

How the Aadhaar-enabled Payment System (AePS) Works

The process of using AePS is quite easy. You have to follow these simple steps:

• Visit a banking correspondent in your area. (It doesn’t matter if he is an executive of the bank you don’t have an account in, you can make transactions through AePS).
• Enter your 12-digit Aadhaar number in the PoS Machine.
• Select the transaction type – cash deposit, withdrawal, mini statement, fund transfer, balance inquiry, or eKYC.
• Select the bank name.
• Enter the amount for the transaction.
• Authenticate the transaction using your biometric (fingerprint or iris scan).
• The transaction gets completed in seconds.
• A receipt will be given to you by the banking correspondent.

Watch the video to know how to pay using AePS

Who can take benefits of AePS

Every person who has their Aadhaar linked with their bank account can use the AePS services to perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance inquiry and obtain a mini statement

What is the fund transaction limit?

The maximum amount is limited to Rs 10,000/- per transaction. For cash withdrawal, the monthly limit is Rs 50,000 or 10 transactions, whichever is reached earlier.

Government Objective to launch AePS

To empower a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry and obtain a mini statement through a Business Correspondent.

To facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension, etc. of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by UIDAI.