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What is AEPS?

What is AEPS?

By Nityanshu RanawatPublished about a year ago 3 min read
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What is AEPS?
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What is AEPS? Complete Information of AEPS?

Hello friends, today we are telling you about AEPS Full Form, many people do not know about AEPS, what is its full name or what is its meaning To know about the information that is going to be told, you should read this article carefully.

Often you must have seen that many people withdraw money from their bank account with Aadhar card, then many people also check their bank balance etc. If you do not know about what happens, then this article is going to be very useful for you.

AEPS Full Form

Before telling about all these what is AEPS and what is it called, let us tell you about its full name.

AEPS Full Form – Aadhar Enable Payment System

It is also called Aadhar Enabled Payment System and if you withdraw money or deposit money from bank account through Aadhar card then it all comes under AEPS.

What is AEPS?

AEPS is operated by the National Payments Corporation of India and with this process any bank account holder will be allowed to do financial transactions with the help of micro ATMs after completing the verification process by fingerprint and eye scan of the Aadhar card. Pradhan does and it has proved to be a very useful method for all bank account holders.

With this system, bank account holders can withdraw money from their bank account in a very easy way using their Aadhar card and if they want to send money to anyone, they can also send money through Aadhar card, this is a secure process. In which the possibility of any kind of loss is very less, the main reason for this is that this process starts only after the use and verification of the Aadhaar card of the bank account holder itself.

Benefits of AEPS:-

AEPS has many different benefits, due to which many people use it recently and we are telling you about some of its main benefits which you need to know about.

Through AEPS, you can transfer money very easily sitting at home.

You do not even need a bank passbook and ATM to withdraw money from this process.

Using AEPS is free, you do not have to pay any kind of fee for depositing or withdrawing money.

With this process, money transactions can be done very fast.

This is a very secure way through which you can do secure transactions.

To take advantage of this, you must have Aadhar card and it is necessary to be linked with Aadhar bank.

The following are the benefits of using AEPS and it is useful in many ways, recently most people use this system to withdraw money from the bank account.

Main Objectives of AEPS:-

AEPS was started with many main objectives and there are many villages which are far away from the bank or ATM machine and they have to work hard to withdraw money and for this they waste a lot of time as well as illiterate. And elderly people are not aware about using ATMs and also have trouble filling the receipt of the bank, due to which they have a lot of trouble in withdrawing money.

After the introduction of this system, now people do not even need an ATM nor do they have to go to the bank, just any account holder has to go to the micro ATM with the Aadhar card and tell the customer service representative how much money is to be withdrawn. And to get the Aadhar card verification done, after that your account will be verified and you will be given the money of your account.

This service has proved to be more useful for the people of rural areas because such problems are seen more in rural areas, but with the introduction of AEPS, those people get a lot of ease in bank transactions.

Calculation – Through this article, we have given you information about AEPS Full Form, we hope that you have found the information given about AEPS useful, if you have any question related to it, then you can tell by comment.

THANK YOU

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Nityanshu Ranawat

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