AEPS - Cash Withdrawal

AEPS - Cash Withdrawal

Aadhaar enabled Payment System (AePS) is a cash withdrawal service also known as Aadhaar ATM. It helps people to withdraw cash from their Aadhaar-linked bank accounts using their Aadhaar number and fingerprint.

The service of Aadhaar ATM is used by people who live in areas where banks and ATMs are not available. An AePS service provider provides the cash withdrawal service to the people who suffer from the lack of cash withdrawal facility in their areas.  

Aadhaar enabled Payment System is a National Payments Corporation of India-supported service that helps people all around India with Aadhaar Cash Withdrawal.

What Services Do AePS Offer?

AePS is an Aadhaar payment system in which Aadhaar, which is linked to people’s banks is used for various banking services like-

  • Cash Withdrawal
  • Cash Deposit
  • Balance Enquiry
  • Mini Statement

How AePS Works?

AePS or Aadhaar ATM is a facility through which a person is delivered multiple banking services using the below-mentioned steps-

  • A person provides his/her Aadhaar number and bank name to the service provider and becomes eligible to withdraw money from Aadhaar card.
  • Every Aadhaar cash withdrawal is done using a biometric device on which the fingerprint of a person is verified.
  • In the end, a receipt of the transaction made is printed and handed over to the customer as a record of the transaction and an AePS cash withdrawal message is received by the recipient.

Why AePS is Helpful?

AePS in banking is highly useful in areas where no banking services are easily available. Apart from the services of AePS balance check & withdrawal, Aadhaar ATM helps people who don’t have the access to banks in their areas in various ways like-

  • It enables people to withdraw cash from their bank accounts without debit cards.
  • Any person who has a bank account can enjoy AePS balance enquiry, cash withdrawal, mini statement, and cash deposit.  
  • AePS also enables farmers to withdraw DBT and other Government relief funds from their Aadhaar linked accounts instantly.

How Can You Start AePS or Aadhaar ATM Service From Your Shop?

  • If you want to start providing cash withdrawal services to people in your locality, you can get started by becoming a BANKIT Agent by registering on BANKIT website in just a few minutes.
  • To provide the AePS service, BANKIT enables you to use the AePS portal login or BANKIT Agent App, which is considered the best AePS App by the users.
  • The government backed BANKIT AePS Portal is a unique platform that allows you to help your customers to withdraw cash from their bank accounts using their Aadhaar.

What are the Benefits of Becoming AePS Service Provider of BANKIT?

BANKIT enables you to become an AePS service provider in your area. After getting associated with BANKIT, you will be able to complete your AePS agent registration easily in a few simple steps, and then you can turn your shop into a banking point to provide banking services to the people of your locality.

Being a BANKIT’s AePS service provider, you will get-

  • An AePS login ID to check the transactions made by you.
  • Attractive commission up to Rs. 10/- on each cash withdrawal done using BANKIT AePS.
  • Easy settlement of your funds and commissions in your bank account.
  • Biometric devices at the most affordable charges from BANKIT.

And, if you are the first one in your area to start providing AePS service, people will come to know about it, and they will be able to deposit and withdraw cash with your help from your shop, which will increase customer in-flow in your shop. The best part is that BANKIT will charge you only Rs. 350/- as a one-time registration fee and make you increase your monthly income up to Rs. 50,000/- by offering you attractive commission and cashback offers. 

How To Use BANKIT’s AePS Services?

BANKIT provides two very incredibly easy ways to use its AePS services.

 

AePS service encourages a bank customer to use his/her Aadhaar as identity proof and access his/her Aadhaar linked bank account to use banking services. So, through BANKIT you can become a source of providing solutions of banking needs to people who need them. BANKIT provides you with its official BANKIT Agent app, which acts as a money withdrawal app making you deliver banking services at the utmost convenience and profitability. 

© BANKIT. 2018-19 ALL RIGHTS RESERVED: BANKIT