Money Transfer by Aadhaar Card: Aadhaar card is issued to every citizen of the country. You can use Aadhaar Card not only as an identity card but with the help of it you can also to withdraw money. At the same time, now you can also transfer money from one account to another with the help of an Aadhaar number only. With the help of the Aadhaar Enabled Payment System (AePS), you can do digital transactions.
This system has been developed by the National Payment Corporation of India (NPCI) to transfer money from one account to another with the help of an Aadhaar number. This system allows financial transactions through ATMs by verifying with an Aadhaar number, iris scan and fingerprint. This system is considered a very secure option, as it does not require you to provide bank details.
Aadhaar card must be linked with the bank
If you want to take advantage of this service, then your Aadhaar card must be linked to your bank account. If your account is not linked with the bank, then you will not be able to withdraw money from this system. Under this system, no OTP or PIN is required for doing transactions. One Aadhaar card can be linked to multiple bank accounts.
Which services on the AePS system
With the help of the AePS system, you can withdraw the balance. Along with this, balance checking, depositing money and transferring funds from Aadhaar to Aadhaar etc. are included. Apart from this, mini bank statements and eKYC can avail the facility of best finger detection etc.
How to use the AePS system
Go to the banking correspondent of your area.
Now enter the 12-digit Aadhaar number in the OPS machine.
After that select any one service like Withdrawal, Deposit, KYC Balance Enquiry, etc.
Now enter the name of the bank and the amount to be withdrawn.
After this verify the biometric transaction, after which you can withdraw money.
