Aadhaar banking (AEPS) helps you to convert your shop into an ATM by offering all basic banking & financial services like cash deposit, cash withdrawal, money transfer, balance enquiry, and mini statement.
It is very useful and effective way of banking for all who are uncomfortable to use ATM or digital cards.
This is the reason, Aadhaar banking is most effectively working in rural and semi-urban areas where people not used to of using digital cards.
Aadhar banking allows you to convert your shop into a digital shop or ATM where you can serve all basic banking services which are following.
Cash Withdrawal
By using Aadhaar banking, customers can use AEPS service to withdrawal money from the bank account. To withdrawal money, you need aadhaar card number and fingerprint authentication. This is an easy process that can be performing in just 5 minutes to withdrawal money through AEPS.
Cash Deposit
Cash deposit allows customers to deposit cash into their own account or any other account through aadhar bank. Agent can deposit the amount from AEPS wallet to bank account and can earn commission.
Balance Enquiry
Now you don’t have to visit ATM or bank to check out your bank account details. You can do balance enquiry by visiting your nearby aadhar bank. Agents can earn commission on each balance enquiry.
Mini Statement
This is one of the most used banking services through ATM. Sometimes people need to check bank statement to figure out banking. Now aadhar bank is allowing you to get your mini statement information through aadhaar banking.
So by using aadhaar banking, you can use all services through Aadhaar card. On the other hand, agents can earn a commission on each & every transaction.
Keep Reading: Benefits of Aadhaar Banking