Nowadays you must have seen that most people withdraw money from their Aadhar cards. People can also transfer money from their Aadhar cards to other accounts through the AEPS system. But have you ever wondered how this AePS system works and how you can withdraw or transfer money from your account? (इस आर्टिकल में हम लोग जानेंगे कि आईपीएस का फुल फॉर्म क्या है? आईपीएस कैसे काम करता है?) In this article, we will know AEPS full form in Hindi & English, What is meant by AEPS, how AEPS works The benefits of this, how to use it, what facilities are available in it, and what is necessary to use this facility.
To understand all these functions of AEPS, read this article carefully.
AEPS Full Form in Hindi and English | AEPS का फुल फॉर्म क्या होता हैं
AEPS Full Form in Hindi (AEPS का फुल फॉर्म हिंदी मैं) “आधार समक्ष भुगतान प्रणाली” होती है, and AEPS full form in English is “Aadhar Enabled Payment System”.
A = Aadhar (आधार)
E = Enabled (समक्ष)
P = Payment (भुगतान)
S = System (प्रणाली)
How Does AEPS Works? | AEPS कैसे काम करता है? | AEPS full form in Hindi
Now this question must be coming to your mind, how does this system work and where did it start? before that, Let me explain the process how withdrawing money from your account by using APES system at Micro ATM.
If you want to withdraw money through the APES system then first you have to go to a Micro ATM and enter your Aadhar Number thereafter your fingerprint will be scanned. Your Aadhar card data is uploaded by the bank to its bank server, if the entered data does not match then you will not be able to withdraw or transfer money from your account.
Before you withdraw or transfer money, it is necessary to know whether your Aadhar is linked to your bank account or not. If your Aadhar card is not linked to your account, then you will neither be able to withdraw nor transfer money from this system.
What is Ment by AEPS? | AEPS Full Form in Hindi
What is Ment by AEPS? “Aadhar Enabled Payment System” (AEPS) is run by the “National Payments Corporation of India” (NPCI). Under the NPCI regulation, account holders can do transactions with the help of Micro ATMs only after completing the verification process of their registered Aadhar card number, and fingerprint. The transaction involves withdrawing and transferring money only.
This new method of transaction is very secure, simple, and accessible, in which the account holder does not need to reveal his account details for making the transaction ( यह नया तरीका बहुत से सरल और सुलभ है इसमें खाताधारक को अपने अकाउंट डिटेल बताने की जरूरत नहीं होती है ).
Benefits of AEPS | AEPS के लाभ | AEPS Full Form in English
Following are the many benefits of AEPS “Aadhar Enabled Payment System”, which you can take advantage of:
- If you live in an area where there is a shortage of banks, then you can take advantage of the AEPS system and use banking facilities very easily.
- You can withdraw and transfer money from your home using this system, you just need to verify your fingerprint and Aadhaar.
- To withdraw money through this medium, you do not need any passbook, and ATM Card.
- According to this payment system, account holders do not have to pay any transaction charge or service charge for the transfer or withdrawal of the money.
- It provides a super secure platform for transactions.
- For making a transaction successful, account holders do not have to submit anything to the bank and they do not have to fill out any type types of form but only they have to submit their Aadhar card number and fingerprint.
Facilities Given by AEPS | AEPS से मिलने वाली सुविधाएं
- Under AEPS, the account holder is given the facility to get the following information about the account.
- Checking the balance in the account.
- Drawing of mini statement.
- All services are you using?
- With the implementation of this system, most facilities will be available to the people of rural areas where there is a shortage of banks.
- Through this facility, you can withdraw and transfer the amount deposited in your account, that too in a very secure way.
For Transacting Through AEPS, the following things require:
By now you must have understood what are the things needed to do the transaction through this system, if not then we tell you. If you want to transfer your money through the most secure system then you need the following things:
- Aadhar Card Number.
- Micro ATM POS Machine With Biometrics.
- AEPS operator as assigned by the bank.
- Bank Branch Name.
- INN Number.
- The fingerprint of the account holder.
Limit of Transactions Defined by the AEPS System | AEPS full form in Hindi
By the use of an AEPS system you can transfer as much as you can but to limit the misuse of this system NPCI and many Bank imposed rules that you can’t transfer more than 50,000 rupees per day.
know How to Use Aadhaar Enabled Payment System
Here are the following step by you can use APS system effectively (यहां निम्नलिखित चरण दिए गए हैं जिनसे आप एपीएस प्रणाली का प्रभावी ढंग से उपयोग कर सकते हैं).
- To enable the AEPS system into your bank account, firstly you have to visit the corresponding Bank. Enter your Aadhar digits to the POS machine and link your card to your bank account.
- Enter your Aadhar number to the POS machine, and select the process you have to avail i.e. cash withdrawal, mini statement, transfer of fund, balance inquiry, electronic KYC, cash deposit, and more.
- After selecting any of the above options you have to enter the amount for transfer for withdrawal from your bank account.
- Then you have to enter your fingerprint and eye scan for transaction confirmation.
- If the verification of your credentials is done, then your payment or transaction will be completed within a limited time.
- Don’t forget to take your receipt from the POS machine.
Precautions You Should Take Before Making a Transaction via AEPS System | AEPS full form in Hindi
- To avail of the benefit from an Aadhaar Enabled Payment System system, you have to verify your Aadhaar Card first to your bank account.
- If you have multiple accounts in the same bank then this system will allow you to use only your primary account for the transactions like withdrawals or fund transfers.
- Aadhaar enabled payment system will allow you to use only one account for transactions.
Motives behind Adopting AEPS System
As you know, the facilities of banks in rural areas are very less, due to which the people living in the village are inconvenienced. In a rural area, it is very difficult to open new branches at each and every place.
To solve this problem, the Indian government has implemented Aadhaar Enabled Payment System. This system has been implemented in many banks, but there are many such banks in which it is going to be implemented. Through Aadhaar enabled payment system, you will be able to do transactions without an ATM card and without an account number. With the introduction of this system, the problem that people in the village had to withdraw money from their account or send it to someone else will no longer come.
Also, read some interesting stuff here:
Frequently Asked Question ( बहुधा पूछे जाने वाले प्रश्न) – AEPS full form in Hindi
What is meant by AEPS? | What is AEPS?
“Aadhaar enabled payment system” is directed and controlled by the NPCI “National Payment Corporation of India” by which account holders can transfer or withdraw funds from the bank account after the verification of Aadhar card number, fingerprint, and Eye scan linked to the account.
What is the AEPS ka Full form in English?
The full form of AP assistant in English is an “Aadhaar enabled payment system”.
What is AEPS Full form in Hindi?
AEPS का हिंदी में फुल फॉर्म “आधार समक्ष भुगतान प्रणाली” है|
How to enable the AEPS system in my bank account?
To enable and avail the benefit of the AEPS system Bank account holders have to verify and connect their Aadhar card to their bank account first.
Is it safe to do transactions with the AEPS system?
Yes, the transaction with the AEPS system is very safe, easy, and secure because it required your Aadhar Card number, Fingerprint, and Eye scan for the successful verification to do the transaction.
What is the maximum limit of transactions according to the AEPS System?
50,000 rupees AEPS cash withdrawal is allowed per day due to security reasons.