IPPB introduces service charges for Aadhaar Enabled Payment System (AePS) – India Post Payments Bank (IPPB) has introduced Aadhaar Enabled Payment System service charges (AePS), which will be in effect from June 15, 2022.
- Aadhaar Enabled Payment System service charges (AePS) is a bank-led model which allows online interoperable financial inclusion transactions at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.
- It will also allow to do six types of transactions.
IPPB AePS service charges
- The first three AePS issuer transactions each month including cash withdrawal, cash deposit, and mini statement, will be free of cost or will be not charged.
- After the three transactions, AePS issuer cash withdrawals and cash deposits will be charged at ₹20 plus GST per transaction, and mini statement transactions will be charged at ₹5 plus GST per transaction.
Aadhaar Enabled Payment System (AePS)
- Cash Deposit
- Cash Withdrawal
- Aadhaar to Aadhaar Fund Transfer
- BHIM Aadhaar Pay
- Balance Enquiry
- Mini Statement
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