Give post office customers, so much will have to be charged for withdrawing or depositing money from Aadhaar

According to the IPPB website, those who are not customers of IPPB are free to withdraw cash, cash deposit, generate mini statement of one transaction per month. Cash withdrawal and cash deposit in excess of the free transaction limit will attract Rs 20 plus GST on every transaction.

IPPB has changed the charges for transactions done through Aadhaar

India Post Payments Bank has increased the charges for some of its services. Base Service charges have been increased from Rs. Service charges for Aadhaar linked transactions have been increased. its name Aadhar Enabled Payment System service means that AePS Is. The new rates are effective from December 1, 2022. According to the National Payment Service of India (NPCI), AEPS is a complete bank model with POS machines such as micro ATMs. online transaction facility is provided. This service is available through Aadhaar authentication in any bank.

In AEPS, customers are given the benefit of 6 types of services. Some of these service charges have been changed. According to the IPPB website, those who are not customers of IPPB are free to withdraw cash, cash deposit, generate mini statement of one transaction per month. Cash withdrawal and cash deposit in excess of the free transaction limit will attract Rs 20 plus GST on every transaction. Similarly, on extracting the mini statement, Rs 5 plus GST will have to be paid per transaction.

account type charge
AEPS cash withdrawal Rs 20 plus GST per transaction over and above the free limit
AEPS Cash Deposit Rs 20 plus GST per transaction if the free limit is exceeded
AEPS Mini Statement Rs 5 plus GST on crossing the free limit

How to do AePS Transactions

Bank name, Aadhaar number have to be entered to make a transaction with Aadhaar. Fingerprint is also required for the transaction.

Features provided by AePS

  • cash deposit
  • cash withdrawal
  • balance inquiry
  • mini statement
  • Aadhar to Aadhar Fund Transfer
  • authentication
  • BHIM Aadhar Pe

Advantages of AEPS

Using Aadhaar Enabled Payment System is fast, secure and convenient. In this, transactions are done with the help of Aadhaar number and biometrics. In this, with the help of iris or fingerprint, withdrawal or deposit is done. There is no possibility of any fraud in this. The benefits of many government schemes are given from AEPS such as payment of NREGA, pension, disabled and old age pension. The most benefit of this service is available in those areas where there are either no banks or there are few.

Aadhaar Enabled Payment System allows you to withdraw, deposit, take mini statement or check balance from the bank account to which your Aadhaar is linked. In the areas where the bank does not have a branch, banks send their representatives and where the transaction is done through AEPS. Bank representatives do the transaction after verifying with Aadhaar.

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English News Headline: india post payments bank new aeps transaction charges for cash withdrawal and cash deposit

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