Even though digital transactions are booming.. still there are few things which cannot be done without cash, still few local merchants, vendors are not into digital payments. Also we find scenarios where suddenly our mobile gets off or the network ruins post we purchase any item from the local shop or merchant. In such a situation the only alternative we have is to make cash payment.
That’s why there should always be some amount at home or in our pocket. We can get cash from banks or ATM But what if those who could not go to the bank or ATM or when some nearby ATM do not work? It is for those people that India Post Payments Bank (IPPB) provides cash at their doorsteps using Aadhaar Based Payment (AEPS) services. Let us know how to avail these services?
AEPS is an Aadhaar based bank account accessible payment service. This service allows balance details, cash withdrawal and remittance transactions. With its help, you can withdraw small amounts from home without the need to go to the bank. These services are useful to save your time in critical situations. Money can be withdrawn only with the help of biometrics.
How to get AEPS services?
A bank account is a must for availing online banking services. That bank should be in AEPS serving list. Almost all major banks in the country are listed for this service. Also Aadhaar of individuals should be linked with bank account. Accordingly transactions can be completed through biometric. With the help of AEPS you can avail services like cash withdrawal, balance details, mini statement, Aadhaar to Aadhaar fund transfer. Aadhaar card physical copy is not mandatory to avail these services. Biometric is enough. There are no charges on these transactions. There is a fee to be paid for using the doorstep services. A maximum of Rs.10,000 can be withdrawn once.
To avail Doorstep Banking, details needs to be included in the service request form. In this you have to select name, address and post office nearest to you. Also, for more details about these services, you can visit the official website of the postal department
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