Aadhaar Card Money Transfer: An Aadhaar card is an important document. There is hardly any person left in India who does not have this Aadhaar card. If you also have an Aadhaar card, then there is good news for you. Did you know that you can make money transactions with this Aadhaar card? Yes, you heard it right.
Money transaction with Aadhaar Card
However, there are several things that you need to ensure in this money transaction. Only then can you make money transactions through an Aadhaar card. First, make sure that your Aadhaar card is linked to your bank account.
Fingerprint Verification
Verify identity with your fingerprint. This process is linked to your Aadhaar number; you can withdraw or deposit money from your bank account. If you need to transfer money to another account, use the Aadhaar number. After the transaction, you will receive a confirmation message. This system is especially useful for people in rural and remote areas, where banking services are limited. Which makes it very easy to take advantage of banking services.
Recently, India’s premier payment agency, the National Payments Corporation of India (NPCI) and Unique Identification Authority (UIDAI), have come up with an Aadhaar-based remittance system (ABRS). This service will be available only for people who have Aadhaar cards. Aadhaar Enabled Payment System, or AePS, is the medium of online money transfer under the bank. After Aadhaar verification, six types of bank-based transactions will be available through AePS. Customers with valid Aadhaar cards can transact money through any bank.