With the rapid digitization of banking, cash withdrawals have become easier than ever. While many of us rely on UPI apps and online payments for convenience, there are times when cash is still necessary. Whether it’s for small purchases or payments in areas without digital access, we often need to withdraw cash. But what if you don’t have your debit card handy or there’s no ATM nearby?
Thanks to the Aadhaar Enabled Payment System (AePS), you can now withdraw money using just your Aadhaar card. Let’s look at how you can use this method and the important details like withdrawal limits.
What is Aadhaar Enabled Payment System (AePS)?
The National Payments Corporation of India (NPCI) introduced AePS to make banking more accessible. With this system, you can withdraw money using your Aadhaar number and fingerprint authentication, eliminating the need for a debit card or visiting an ATM.
By going to a micro ATM, available at various retail outlets, you can access your bank account for basic transactions like cash withdrawal, balance check, or mini statements.
Key Benefits of Aadhaar-based Withdrawals
- No Debit Card Required: You don’t need a debit card to withdraw money from your bank account.
- Convenient Locations: Micro ATMs are located in many small retail shops and other accessible areas.
- Fingerprint Authentication: Your fingerprint is all that’s required to complete the transaction.
Step-by-Step Process for Aadhaar Money Withdrawal
Follow these simple steps to withdraw money using your Aadhaar card:
Step 1: Visit a Micro ATM
- Go to any retailer or outlet that provides micro ATM services.
- Enter your Aadhaar number into the machine. Make sure your Aadhaar is linked to your bank account.
Step 2: Authenticate with Your Fingerprint
- The next step is to provide your fingerprint on the scanner. This acts as your authentication.
- Once your fingerprint is verified, a list of options will appear on the screen.
Step 3: Select the Withdrawal Option
- From the available options, choose the cash withdrawal option.
- Enter the amount you wish to withdraw, such as Rs 1,000 or Rs 2,000.
Step 4: Complete the Transaction
- Once the transaction is successful, the cash will be handed over to you.
- You will receive a confirmation message on your registered mobile number regarding the transaction.
Withdrawal Limits: How Much Can You Withdraw?
One important thing to keep in mind is that different banks have different withdrawal limits for Aadhaar-based transactions. For example:
- Some banks may allow withdrawals as low as Rs 10.
- In some cases, the limit can go up to Rs 50,000 per transaction.
It’s always a good idea to check with your bank regarding the specific limits they have for Aadhaar-enabled transactions.
Additional Details You Should Know
- Linked Bank Account: Ensure that your Aadhaar is linked to your bank account, as this is mandatory for AePS transactions.
- Daycare Procedure for Emergencies: In case of emergencies, this method of withdrawal can be a fast way to access cash, especially if you are in a location where traditional ATMs are unavailable.
Using the Aadhaar Payment System, withdrawing money has never been easier. This method is especially useful for those in rural areas or places with limited banking facilities, allowing them to access funds without the need for a debit card or ATM.
