What is Money Transfer via AEPS?
AEPS Money Transfer allows you to send money from one bank account to another using Aadhaar and biometric authentication. It’s a secure and fast method of transferring funds without requiring a bank card.
How can I transfer money using AEPS?
To transfer money via AEPS, visit an AEPS-enabled location, provide your Aadhaar number, and authenticate the transaction using your fingerprint. The funds will be transferred to the recipient instantly.
Do I need a bank account to use AEPS for money transfer?
Yes, you must have a bank account linked to your Aadhaar number. The transaction will be processed between the sender's and recipient's Aadhaar-linked bank accounts.
Is there a maximum limit for Money Transfer using AEPS?
The maximum limit for AEPS Money Transfer varies depending on the bank's policy. Typically, the maximum limit for each transaction is ₹10,000, but you should check with your bank for exact limits.
What documents do I need to transfer money using AEPS?
To transfer money, you only need your Aadhaar number and your fingerprint for biometric authentication. No additional documents are required.
How long does it take to complete a Money Transfer via AEPS?
Money transfer via AEPS is completed instantly. Once the transaction is authenticated, the funds will be transferred to the recipient's account immediately.
Is AEPS Money Transfer safe?
Yes, AEPS Money Transfer is highly secure. It uses biometric authentication, ensuring that only the authorized individual can initiate the transfer.
Can I transfer money to any bank using AEPS?
Yes, AEPS allows money transfers to any bank account in India that is linked with Aadhaar, ensuring widespread accessibility and reach.