Ever run into a situation where you urgently need cash but don’t have time to rush to the bank or ATM? Well, fret no more! Thanks to the innovative IPPBOnline Aadhaar ATM (AePS) service, you can now withdraw cash from the comfort of your own home.
What is IPPBOnline Aadhaar ATM (AePS) Service?
AePS, which stands for Aadhaar Enabled Payment System, is a game-changer in the world of banking convenience. It allows you to use your Aadhaar card fingerprint as secure identification to access your Aadhaar-linked bank account and perform basic banking transactions. This means you can withdraw small amounts of cash without needing an ATM card or even stepping out of your house!
Here’s the Magic Behind AePS
- Your Friendly Postman Becomes Your Banker: IPPB has partnered with India Post, so your trusty postman can now act as your doorstep banking agent. Simply request an AePS transaction, and they’ll use a special Micro ATM device to process your withdrawal securely.
- Biometric Authentication for Safety: For ultimate security, AePS relies on your unique fingerprint for verification. This ensures only you can access your hard-earned cash.
What Else Can You Do with AePS?
While withdrawing cash is a major perk, AePS offers other helpful features:
- Check Your Account Balance: Need a quick update on your account funds? No problem! Use AePS to get a real-time snapshot of your balance.
- Mini Statement on Demand: Keep track of your recent transactions with a mini statement generated right through AePS.
- Transfer Money Aadhaar to Aadhaar: Sending money to someone with an Aadhaar-linked account? AePS lets you do it conveniently, directly from your account.
Important Requirements to Use AePS
To take advantage of AePS, make sure you have these things in order:
- An Aadhaar-Linked Bank Account: The core of AePS is having your Aadhaar card linked to your bank account. This ensures your identity and allows access to your funds.
- Bank Participation in AePS: Not all banks offer AePS services just yet. Check with your bank to confirm if they participate in the program.
Addressing Common Queries
As customers explore the convenience of the IPPBOnline Aadhaar ATM (AePS) service, they may encounter some questions. Here’s a breakdown of FAQs to ensure a smooth experience:
1. What happens if a customer enters an incorrect Aadhaar Number or chooses a Bank where he doesn’t have an account?
If incorrect Aadhaar or bank details are entered, the transaction will be declined with a suitable response message. It’s crucial to select the correct bank where the Aadhaar-linked account exists.
2. Does the customer specifically need to register with his Bank to be able to transact through AEPS?
Registration isn’t necessary, but linking Aadhaar with the bank account is vital. Procedures may vary by the issuer bank, so customers should check with their respective banks.
3. How can a customer specify the account number from which the transaction needs to be done if they have multiple accounts linked to their Aadhaar number within the same bank?
AEPS operates with the primary account linked to Aadhaar. Customers must contact their bank to specify or change the primary account.
4. If a customer has multiple accounts linked to their Aadhaar number across multiple Banks, which account will be debited for withdrawal?
In this scenario, customers have the flexibility to select the bank from which the transaction should occur within the AEPS app.
5. Can customers having accounts with IPPB use AEPS for withdrawing money from other Bank terminals?
Yes, IPPB services are activated for such transactions. Additionally, customers can utilize IPPB’s extensive access points for regular cash withdrawals.
6. Is carrying Aadhaar Card mandatory for transactions?
While carrying the Aadhaar card isn’t mandatory, linking Aadhaar with the bank account is essential for successful transactions.
7. How will customers know if the transaction is successfully processed/completed?
Customers can check the transaction status on the m-ATM and receive SMS alerts from IPPB and their respective banks if registered for mobile alerts.
8. What are the charges associated with various AEPS services offered by IPPB?
No transaction charges are levied on customers for availing services at access points. However, doorstep service charges apply as per prevailing fees.
9. Is there any limit on AEPS Cash Withdrawal and Fund Transfer transactions?
IPPB doesn’t impose limits on AEPS transactions for other bank customers. However, issuing banks set limits based on customer profiles and risk management practices. NPCI has set a maximum transaction amount of Rs. 10,000 for a single AEPS financial transaction.