AEPS cash withdrawal is the process of withdrawing money from bank account using AEPS service. India is home to 74% of people who live in rural areas. There are no ATMs or banks that can withdraw cash from their bank accounts. AEPS was established by NPCI in order to solve this problem. This service allows users to access banking services and can participate in the economy.
What is AEPS?
AEPS stands for aadhaar enabled payment system. This model is bank-led and allows all bank customers to use basic banking services with finger print authentication and aadhaar cards.
All banks affiliated with NPCI offer support and management for AEPS banking. AEPS service allows customers to conduct basic banking transactions with any bank.
AEPS is the most cost-effective, efficient and reliable method to provide banking services. It is created by NPCI.
Today, millions of merchants provide AEPS services at their retail stores and offer banking facilities. In rural areas where banks and ATMs are not available, these business correspondents are working as banking point and offering banking services.
AEPS allows merchants to offer all the following banking services:
- AEPS Cash Withdrawal
- AEPS Cash Deposit
- Balance Enquiry
- Mini Statement
- Aadhaar Pay
- Micro ATM Machine
Merchants can offer all types of banking services. These banking facilities can only be used by customers who have an Aadhaar card linked to a bank account.
Today we will talk about AEPS cash withdrawal.
Cash I Withdraw Money with Aadhaar Card
Many years ago, rural people were not able to access banking services. Today they can easily use AEPS service to perform banking transactions.
To get banking services, one had to go to a city or far from a village. All banking services can be performed by anyone who is within a reasonable distance of the BC (Business Correspondent).
Today, we'll show you how to withdraw money directly from your bank account by using aadhar card.
A AEPS card is required to withdraw money.
Step by step process of withdrawing AEPS cash
- For aeps cash withdrawals, please visit your BC.
- Provide your aadhaar card no. Your aadhaar card number and the bank name that is linked to it
- AEPS cash withdrawals available
- Enter the amount you would like to withdraw
- Authenticate your AEPS transaction through finger print authentication
- Transactions will only be made if you have all the details correct.
- Notifications will be sent to mobile devices
It is an easy, fast, and reliable method to withdraw cash using your Aadhaar Card.
Here are the details on how to withdraw cash from a bank account with an Aadhaar card.
If you are planning to start your own AEPS business and looking for the best AEPS service provider company then I would like to suggest you Ezulix Software.
For more details about AEPS service, AEPS business, visit my blog or apply for a free live demo.