AEPS Cash Withdrawal Limit

AEPS Cash Withdrawal Limit
AEPS Cash Withdrawal Limit

The Aadhaar Enabled Payment System (AEPS) is a way for people to do banking using their Aadhaar card. One important thing to know about AEPS is its cash withdrawal limit. This limit tells you how much money you can take out at once from your bank account using AEPS. It’s like a rule that helps you know the maximum amount you can withdraw. Understanding this limit is important for everyone who uses AEPS, as it affects how much money you can access easily from your bank account.

What is the AEPS Transaction Limit per day?

To prevent misuse or fraud, some banks have set limits on AEPS transactions. For instance, many banks allow a maximum total transaction of INR 50,000 per day for everyone. However, it’s important to know that the National Payments Corporation of India (NPCI) has set a specific limit for AEPS cash withdrawals, which is Rs. 10,000.

This means that even though you can make transactions totaling up to INR 50,000 in a day through AEPS, you can only withdraw a maximum of Rs. 10,000 in cash using this method. These limits are there to ensure transactions are safe and secure while making banking convenient for users.

Also Read: How to Activate (Enable) AEPS Service

AEPS Withdrawal Limit Per Month

The AEPS withdrawal limit per month is set at Rs. 50,000. The National Payments Corporation of India (NPCI) suggests that this limit should be calculated based on a rolling 30-day period. This means that instead of considering just the current month, transactions over the past 30 days are taken into account when determining if the limit has been reached. Banks issuing AEPS cards may also opt to apply this limit on a rolling daily basis, which helps in better managing the limit and ensuring smoother transactions for users.

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What is the IPPB AEPS Withdrawal Limit?

At India Post Payments Bank (IPPB), there’s no specific limit on AEPS withdrawals for customers of other banks. However, each bank sets its limits based on its customers’ profiles and safety measures. The National Payments Corporation of India (NPCI) has capped the maximum amount for a single AEPS transaction at Rs. 10,000. So, while IPPB doesn’t restrict transactions, it’s important to know your own bank’s limits and NPCI’s rules to avoid any surprises during withdrawals.

Read More: Top Benefits of Using AEPS for Financial Transactions

What is PNB AEPS Withdrawal Limit?
What is PNB AEPS Withdrawal Limit?

What is PNB AEPS Withdrawal Limit?

Punjab National Bank (PNB) doesn’t set a specific limit for AEPS withdrawals for customers of other banks. However, individual banks, including PNB, may have their limits based on customer profiles and risk management. Customers need to check with their bank regarding any withdrawal limits that may apply to their AEPS transactions.

SBI AEPS Withdrawal Limit

At the State Bank of India (SBI), there isn’t a set limit for AEPS withdrawals made by customers from other banks. But, like most banks, SBI may have individual withdrawal limits based on factors like customer details and safety precautions. It’s a good idea for customers to check with SBI or their bank to understand any limits that could affect their AEPS transactions.

Bank of India AEPS Withdrawal Limit

For the Bank of India, the maximum transaction amount for a single AEPS financial transaction is set by NPCI at Rs. 10,000. This means that regardless of the bank, including Bank of India, customers can withdraw up to Rs. 10,000 in one AEPS transaction.

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All Bank AEPS Withdrawal Limit

For AEPS transactions across all banks, many banks have put a daily cap of INR 50,000 on total transactions for everyone. However, the maximum withdrawal limit set by NPCI specifically for AEPS cash withdrawals is Rs. 10,000. This means that while some banks may allow transactions totaling up to INR 50,000 in a day, each AEPS cash withdrawal cannot exceed Rs. 10,000, ensuring uniformity and security in transactions across different banks.

Also read – What is AEPS Debit Facility?

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By Alisha Bharmal

I am Bharmal Alisha, a seasoned Social Media Marketer and Content Writer with a rich background spanning over 3 years. My expertise lies in the dynamic intersection of digital marketing and content creation. Having dedicated substantial time to the study of the fintech industry, I bring a comprehensive understanding of its nuances. My skills are honed towards effectively translating the complexities of the fintech sector into compelling and engaging content. Through strategic social media marketing, I aim to enhance visibility and drive meaningful engagement within the fintech realm.

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