The Aadhaar Enabled Payment System (AePS) service introduced by India Post Payments Bank (IPPB) enables cash withdrawals from the comfort of home.

Banking & Finance

The Aadhaar Enabled Payment System (AePS) service introduced by India Post Payments Bank (IPPB) enables cash withdrawals from the comfort of home. Through the AePS facility, a bank customer can employ their Aadhaar number as an identity verification tool to access their Aadhaar-enabled bank account. This service allows for basic banking transactions such as balance enquiries, cash withdrawals, and remittances through a business correspondent. For customers to take advantage of the AEPS service, several criteria must be met. Firstly, the customer's bank must participate in AEPS. Secondly, the customer's Aadhaar number must be linked to their bank account. Lastly, transactions are authenticated through biometric data. IPPB, as the acquirer bank, does not impose any limits on AePS transactions for customers of other banks. However, the issuing bank determines these limits based on customer profiles and risk management practices.


      The NPCI has set a maximum transaction amount of Rs10,000 for a single AePS financial transaction.

     

     

 

     


India Post Payments Bank

HQ- New Delhi
Established- 2018
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