Now money will come out of Aadhaar number, only these 4 things have to be kept in mind

Do you also have an Aadhaar card? If yes, then you will not have to bother for money at all because now you can withdraw money with the help of Aadhaar, but for this your Aadhar card must be linked to bank account.

Customers can withdraw the amount deposited in the bank through the Aadhaar Enabled Payment System (AePS) service. At present, crores of people are doing banking transactions without ATM card or PIN.

Where can you get money?

Tell that till now you must have withdrawn money by going to the ATM with the help of your ATM cum debit card, but you can also do this with the help of your Aadhaar card. You will be able to withdraw cash through an Aadhaar based ATM machine.

Apart from withdrawing cash, you can also make a cash deposit, balance check, draw a mini statement and pay the loan. Not only this, facilities like PAN card, e-KYC and loan disbursement will also be provided through them.

What is the base AEPS?

Aadhaar based payment (AEPS) has been prepared by National Payment Corporation of India (NPCI). Through this, banks and financial institutions use Aadhaar number and UIDAI authentication to provide their services. It has also got the recognition of RBI. Under this arrangement, your fingerprint and mobile number works like your debit card. For this you do not even need to enter a PIN.

Essentials of Aadhaar Micro ATM:

The Aadhaar micro ATM acts as a modified POS (point of sale) device.

Its purpose is to promote pinless banking.

There is no charge on this folding transaction.

Like ATMs, it will not have cash-in and cash-out but the Aadhaar micro ATM will be operated by the operator.

Who can take advantage of this facility?

If you have linked your bank account to Aadhaar, then you can take advantage of this facility. If not done, you can go to the branch and link your account with Aadhaar.

(With inputs from news18.com)

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