AEPS (Aadhar Enabled Payment System)

What is the Meaning of AEPS?

AEPS stands for Aadhaar Enabled Payment System. It is a great way to do banking work without going to the bank. You can check your bank balance, cash withdraw and send funds to others using your Aadhar card. This system has made it very easy for people to banking work, no matter how far the bank is.

To use AEPS, you must have an Aadhaar card and a bank account linked to it. You can also do this work from a micro ATM.

AEPS is more helpful for those people who find it difficult to reach banks. It brings banking services closer to people’s homes.

How to use AEPS?

• Link Aadhar: Your Aadhar card should be linked to your bank account.
• Find an Agent: Look for an AEPS agent, mini ATM or banking correspondent near you.
• Share Details: Give the agent your Aadhaar number and tell them what you want to do (withdraw money, check balance, etc.).
• Biometric Verification: Give your fingerprint or iris scan for security.
• Check the Receipt: Always check the receipt to make sure the transaction is correct.

What are the Benefits of AEPS?

• Easy to use: No need for cards or internet banking.
• Wide availability: AEPS agents are found in many places.
• Secure: Uses Aadhaar authentication for safety.
• Financial inclusion: Helps people without bank accounts access banking services.
• Time-saving: Quick and easy transactions.
• Multiple services: Withdraw cash, check balance, transfer money, and more.
• Government benefits: Receive government payments directly.

What Services are Available Under AEPS?

• Balance Enquiry
• Aadhar to Aadhar Fund Transfer
• Cash Withdrawal
• Cash Deposit
• Mini Statement

What is the Aeps Cash Withdrawal Limit?  

The maximum amount you can take out in one go is Rs. 10,000. This is a rule made by the government to keep things safe.

Some banks might have their own rules about how much you can withdraw in a day or month. It’s best to check with your bank to know their limit. This helps prevent fraud and problems.

What is the New AEPS Rule?

The government has made new rules for AEPS to keep your money safe.

Now, AEPS agents need to be more careful about who they let use the service. They have to check people’s details very closely.   

When you are using AEPS, it is actually you, also, make sure that no one else is using your ID. This will help prevent bad guys from using your information. These changes will make using AEPS safe for everyone.

What is Error Code 61 on AEPS?

Error code 61 on AEPS means you’ve reached your withdrawal limit. This happens when you try to take out more money than your bank allows in one go.

To fix this, you can try withdrawing a smaller amount or wait until the next day.

How to Become an AEPS Agent?

• Go to the official Digital India Portal website.
• Click on the register option and fill in the required details such as your name, contact information, and address.
• Upload your document ( Aadhaar card, PAN card)
• After submitting your application and documents, the portal will review your details. Once approved, you will receive a notification.
• Upon approval, you will be given a unique Agent ID and password. This ID will be used to log in to the  portal of the AEPS and perform transactions
• Set up equipment like, a smartphone or computer with internet access, a biometric fingerprint scanner

What is the Commission on AEPS Transaction?

Conclusion

Aadhar Enabled Payment System is a transformational initiative that simplifies banking by leveraging Aadhaar authentication. It has brought banking services to the fingertips of people, especially in rural and underserved areas. AEPS has successfully bridged the gap between the formal banking system and the unbanked by leveraging biometric authentication and strong digital infrastructure. AEPS has not only expanded access to essential financial services but also empowered millions of individuals, especially in rural and remote areas.