Aadhaar Enabled Payment System (AePS) - Paisabazaar.com.
One needs to have an OTP, signature, check or a debit card to withdraw money from the bank. Nobody has suffered a financial loss or identity theft so far. Nobody has suffered a financial loss or.
The person can withdraw money only after undergoing an Aadhaar-based online authentication using finger print or eye scan. However, activists claim that Aadhaar has become a cause for exclusion.
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With the help of Aadhaar Enabled Payment System (AePS), financial transactions can be made using the Aadhar card number and verifying the details through fingerprints. If your Aadhaar card is linked with your bank account, you can withdraw money using the same. You can also send money from one account to the other by feeding your Aadhaar number.
How to update the mobile number in aadhar card? It is essential to keep your registered mobile number up to date with your aadhar card. It is because nowadays, your bank account is linked with your aadhar card and if anyone has your registered mobile number then it is possible to withdraw money from your bank account using your UID and OTP.
There are two procedures to withdraw PF. a) With Aadhar Card: This is the fastest and involves few hassles. b) Without Aadhar Card: Can prove very laborious and tiring. First, let us look at how you can withdraw PF using Aadhar Card. a) PF Withdrawal with Aadhar Card. Complete the Composite Claim Form- Aadhar and submit to your nearest EPFO.
Customers with their Aadhaar number and fingerprint authentication can withdraw or put money into their bank accounts. This money will come from the cash drawer of the BC. Essentially, BCs will act as bank for the customers and all they need to do is verify the authenticity of customer using customers’ UID. The basic transaction types, to be supported by micro ATM, are Deposit, Withdrawal.