FAQ Relates to Aeps Portal
What is Aadhaar Enabled Payment System?
Aadhaar Enabled Payment System (AEPS) is a payment system that allows bank customers to use Aadhaar to identify themselves and access their Aadhaar-enabled bank accounts. Basic banking transactions such as balance inquiry, cash withdrawal, or remittances through Business Correspondents can be performed.
What services are available under AePS
Here are the Aeps services:
i. Cash Withdrawal
ii. Balance Enquiry
iii. Mini Statement
iv. Aadhaar pay
What are the essential elements for AEPS to function?
- Customer who wants to avail of AEPS must make a formal request:
- Bank Account at a Bank Participating in AEPS
- Their Aadhar should be linked with their Bank account at another Bank.
- Only their biometric authentication is used to complete the transaction.
What is an ON-US transaction?
Transactions made by Bank customers on Same Bank Aeps portal.
What is an OFF-US transaction?
A. Interbank transactions refer to transactions made by customers of other banks using the BharatAeps portal.
Who is the acquirer Bank?
The Bank has installed the AEPS terminal. This terminal is used for cash withdrawals, fund transfers or other non-financial transactions like balance inquiries and mini statements.
What is RRN No. ?
A. RRN number refers to a 12-digit number that is used to record transactions and uniquely identify transactions.
What happens if a customer chooses a Bank that doesn’t have one or enters the wrong Aadhar Number?
A. A customer can link their Aadhaar to multiple banks. Therefore, the customer must choose the Bank from which he wants to make the transaction. If a customer has multiple accounts with the Bank selected, then only one will be debited. Customers cannot select other bank accounts at the time of transaction.
Is it necessary for the customer to register with his Bank to use AEPS?
A. Ideally No, but linking Aadhaar Number with Bank account is a pre-requisite. The procedure for registration will be determined by the issuer bank that provides the service. Check with the Bank where the Aadhaar-linked bank account is held.
Customers may have multiple accounts linked to their Aadhar number at their Bank. How do they identify the account number from which the transaction must be made?
A. If customer has multiple account within the same Bank linked to Aadhaar, AEPS services will work with only the primary account associated with the Aadhaar. To change or specify the primary account linking, the customer must contact their Bank.
A customer may have multiple accounts linked to his Aadhaar number at multiple banks. Which account will be debited when he withdraws?
Since the accounts are held with different (multiple) Banks, Customer will have a choice to select the Bank name in the AEPS app from where the transaction need to be done.
Can a customer with an account at any bank use AEPS to withdraw money from other Aeps Merchant Portal?
Yes, all banks have activated the service. In collaboration with Fino, BharatAeps also has a network of access points. Customers can withdraw cash at BharatAeps access point.
Is it necessary for the customer to have an Aadhaar Card to transact?
Although Aadhaar cards are not required, linking Aadhaar numbers with Bank accounts is necessary for transactions to be completed successfully.
How does the customer know that the transaction was successful?
You can view the status of your transaction on the mATM primarily. If the customer is registered for mobile alerts, an SMS will be sent to them by IPPB and their Bank.
What are the charges for various AEPS services offered at BharatAeps?
If the customer avails services at any access point there will not be any transactional fees. The customer will still be charged a service fee according to the Merchant fees which depends their own.
Are there any limits on AEPS Cash Withdrawal or Fund Transfer transactions? What are the limits?
BharatAeps, as an Fino Partner, does limit AEPS transactions for any other bank customer. The Issuing Bank maintains these limits based on customer profiles and risk management. The maximum transaction amount for NPCI is Rs. 10,000 for a single AEPS financial transaction.
I have a joint account with another bank. Is BharatAeps able to offer me AEPS services? Additional consent from Joint Account holders is required.
If Aadhaar has been linked to the joint account, and the operation condition is either survivor or either, you can avail of services using any Aadhaar information.
Are there age restrictions for AEPS services? Are minors above ten years old eligible to avail of these services? Is it possible for a minor under ten years to use such services?
It is allowed for minors but depends on the issuer’s Bank.
The customer account has been debited. They have received confirmation from their Bank, but the MATM/CBS transaction could not be completed.
The transaction may have failed. It may take up to 5 days for the refund to be processed. If the amount isn’t credited within five days, the Bank can raise the matter with them.
Where can a customer file a complaint about a failed transaction?
The customer can file a complaint/dispute with the Bank that holds the account. The Bank will raise the matter with the Bank concerned via NPCI’s Dispute Management System.