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What is AEPS cash withdrawal ?

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0 2022-09-07T13:02:30+00:00
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Hey, I get confused between the many payment systems available to us. AEPS or Aadhaar Enabled Payment System is a payment service through which a customer can access an Aadhaar-enabled bank account with the help of Aadhar. I will share with you AEPS cash withdrawal meaning amongst other details right here. Utility bill payments on NoBroker will earn you guaranteed cashback, give it a try. Provide all of your property-related questions to the experts at NoBroker and get them resolved in no time. What is AEPS cash withdrawal? AEPS system allows bank customers to perform basic banking transactions like cash withdrawals if your Aadhar ID is linked to the Aadhar-enabled bank account. The service is completed using biometric authentication. If you withdraw money on the AEPS server, you will not need to disclose your bank account information. Other than cash withdrawal, the following services are available:
  1. Balance Enquiry
  2. Mini Statement
  3.  Aadhaar to Aadhaar Fund Transfer
AEPS cash withdrawal limit needs to be followed even if the transactions are done by an IPPB customer on another bank’s AEPS terminal. The limit is also followed when The transactions are done by IPPB customers on IPPB’s own AEPS terminal. Usually, all the rules about the procedure are laid down by the Issuer bank. If you want to withdraw money, then you can do so on the AEPS app. The app will look at the primary account associated with the Aadhaar. Cash can be withdrawn from the IPPB access points. You can check the status of the transaction on the m-ATM as well. This is all from my end on AEPS cash withdrawal meaning. Read more : What is AEPS? What is BBPS payment? What is a payment aggregator? What is VPA in online payment? What is a payment bank in India?

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