If you have an Aadhaar card, you can withdraw money using it. Even if you don’t have your Aadhaar card, knowing your Aadhaar number is sufficient.
Our country is gradually shifting towards digital payments. People prefer to make payments digitally, whether buying small items or big-ticket purchases. Almost all transactions and purchases in the country are now done through online payment.
Due to this, people have reduced their reliance on physical currency. However, some tasks still require physical cash. It can be inconvenient when physical money is needed, and there’s an ATM nearby but no debit card. In such a case, you must go home to get your debit card or find a bank.
Usually, you would have to go to a bank or ATM to withdraw money, but another easy method exists. Cash can also be withdrawn using your Aadhaar card.
Here’s how you can withdraw money using your Aadhaar card: If you have your Aadhaar card in hand or know the Aadhaar number, you do not need to go to a bank or ATM center to withdraw money.
Your Aadhaar card will allow you to withdraw money. However, two minor conditions exist to avail of this service: a) Your Aadhaar card should be linked to your bank account. b) The bank account linked with Aadhaar should have sufficient funds for withdrawal.
You can use this new facility only if these two conditions are met. The National Payments Corporation of India (NPCI) has launched the Aadhaar Enabled Payment System (AEPS).
It allows you to withdraw money from your bank account using your Aadhaar card. With this facility, you can withdraw money from any micro ATM using your UID card and fingerprint.
Here’s the method for withdrawing money:
- Enter your 12-digit UID card number at the micro ATM.
- After that, place your thumb on the fingerprint scanner for verification.
- Now, you will see some options on the Micro ATM screen.
- These options include cash transfer or cash withdrawal.
- If you need to withdraw money, click the “Withdraw Cash” option.
- Now, you have to enter the amount you want to withdraw. The process is completed very simply.
A micro ATM bank operator will give you the money you withdraw. The funds will be debited from your bank account, and you will receive an SMS notification on your registered mobile number about the transaction and the amount deducted.
Different banks have imposed different limits on withdrawing money using the Aadhaar card. In some banks, this limit is Rs. 10,000, while others allow up to Rs. 50,000. Some banks do not accept the Aadhaar-enabled payment system due to security reasons.