What is AEPS and AEPS full form – Full Guide 2024

What Is AEPS And AEPS Full Form, Hello Friends, Welcome To All Of You On Our Website FullformsMeaning. Today Once Again We Are Here For You With Important Information Which Is Known As What Is AEPS And AEPS Full Form.

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Friends, Have You Heard About Any Such System In Which You Can Transact With Your Bank Account Without Knowing The Bank Account Number. Yes, A System Has Been Developed In Which Transactions Are Possible Without Sharing Your Bank Account Information, So Stay Tuned Till The End Of The Article, You Will Get All The Information Related To AEPS Full Form And AEPS Meaning In Hindi, Let’s Start.

What is AEPS and AEPS full form?

AEPS Full Form

A – Aadhaar

E – Enable

P – Payment

S – System

Thus The Full Form Of AEPS Is “Aadhaar Enable Payment System“.

AEPS Full Form In Hindi

The Full Form Of AEPS In Hindi Is “आधार सक्षम भुगतान प्रणाली” In Hindi. With The Help Of This System, There Has Been Immense Relief In Those Areas Where There Is No Presence Of Banking Services.

Other Full Form Of AEPS

Short Form	Full Form
AEPS Full Form In Education	Assessment, Evaluation And Programming System For Infants And Children
AEPS Full Form In Banking	Aadhaar Enabled Payment System
AEPS Full Form In Computer	Aadhaar Enabled Payment System
AEPS Full Form In English	Aadhaar Enabled Payment System
AEPS Full Form In Post Office	Aadhaar Enabled Payment System

What Is AEPS?

AEPS i.e. Aadhaar Enabled Payment System Is A System Of Money Transactions Which Is Operated By The National Payment Corporation Of India (NPCI). In This, Financial Transactions Are Done based on Verification Of Feed Retina And Finger Print In The Aadhar Card Of Any Person.

The Biggest Advantage Of This System Has Been Seen In Rural Areas Where There Is Minimum Presence Of Banking Services. Rural People Have To Suffer A Lot To Take Advantage Of Banking Facilities But The Solution To This Problem Has Become Possible Through AEPS. Through This System, People Can Deposit Money Along With the Withdrawal Of Money.

What Is AEPS Meaning?

Providing Banking Facilities Or Opening A Bank Had Become A Challenging Task For The Government. In Such A Situation, There Was A Need For Such A System In Which There Is Neither Much Investment, Paid Staff Nor There Is A Problem Of Space.

The Solution To All These Problems Of The Government Is AEPS Because, Through AEPS, People Of Remote Areas Will Be Able To Transfer And Withdraw Money Easily And Other Financial And Non-Financial Banking With The Help Of Micro ATM Which Is A Small Form Of ATM Machine. You Can Take Advantage Of The Facilities.

With The Help Of a Fingerprint Sensor In a Micro ATM, You Can Withdraw Money As Well As Transfer Money To Someone’s Account.

What Are The Types Of Services Offered By AEPS?

Aadhaar Enabled Payment System Provides The Following Facilities Related To Customers’ Money.

1. Cash Withdrawal

2. Cash Deposit

3. Balance Inquiry

4. Aadhaar To Aadhaar Fund Transfer

5. Mini Statement

6. E – KYC

AEPS FAQs?

What Is The Full Form Of AEPS?

The Full Form Of AEPS Is “Aadhaar Enabled Payment System“.

Who Can Avail AEPS?

Any Person Who Wants To Take Advantage Of AEPS Service, His Bank Account Should Be Linked With Aadhaar. If You Have More Than One Account With A Bank, Then Only The Primary Account Will Be Used Under AEPS.

No OTP Or PIN Is Required To Transact Through AEPS. AEPS Only Supports Transactions Between Aadhaar Linked Bank Accounts.

How Do I Register For AEPS Service?

To Register, You Must Have Your PAN Card And Aadhar Card. Only After This, You Can Fill out The Registration Form For Aadhaar Enabled Payment System (AEPS) And You Can Do All This Work Online.

What are The Benefits Of AEPS?

Through AEPS You Can Transfer Funds, Make Payments, Deposit Cash, Make Withdrawals, and Inquire About Bank Balance But Through This System, Only Person Can Withdraw And Deposit Money, Whose Aadhar Card Can Be Linked With Bank Account. If Your Aadhar Card Is Not Linked With The Bank Account Then You Cannot Do Any Kind Of Transaction.

The AEPS System Aims To Empower All Sections Of The Society By Making Financial And Banking Services Available To All Through Aadhaar.

How Do I Withdraw Money From AEPS?

To Withdraw Money Through AEPS, You Need To Follow The Following Steps.

1. First Of All First Go To The Nearest Shop, Where the Micro ATM Is Available.

2. Enter Your 12 Digit Aadhaar Number In The POS (Point Of Sale) Machine.

3. Now Select The Type Of Transaction Offered By the AEPS System Like Cash Deposit, Withdrawal, or Fund Transfer.

4. Select The Name Of The Bank And Enter The Desired Amount.

5. Wait For The Transaction To Complete. The Transaction Will Be Completed In A Few Seconds.

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