How to Stop AePS Cash Withdrawal
While the Aadhaar Enabled Payment System (AEPS) has made digital payments more accessible for many people in India, some individuals may want to disable the system due to personal preferences or privacy concerns. If you are one of those individuals, you may be wondering how to disable the AEPS or How to Stop AePS Cash Withdrawal?. In this article, we will discuss the steps you can take to disable the AEPS Cash Withdrawal.
Solution 1: Internet Banking
To stop the AEPS Service, you can first try using internet banking. Here’s what you can do:
- Log in to your internet banking account.
- Look for the option to disable your AEPS Cash Withdrawal.
- If you find a service called “De-link Aadhar with bank account,” you can use it to stop AEPS cash withdrawal without needing to go anywhere else.
Solution 2: Visit Your Bank
Another way to stop the AEPS Service is by going to the bank where you linked your Aadhaar card. Here’s what you need to do:
- Take a photocopy of your Aadhaar card and your bank passbook with you.
- Write a request asking to disable the AEPS service, or the bank might give you a form to fill out.
- Give these documents to the bank representative.
- Once they verify your identity, they’ll disable the AEPS service for you.
After submitting your request, you will need to wait for confirmation from the bank that the AEPS service has been disabled for your account. The confirmation may be sent to you through email, SMS. You can also follow up with the bank representative to ensure that the AEPS service has been disabled.
Is it a good idea to remove your Aadhaar from your bank account in 2024?
In 2024, the security for Aadhaar Enabled Payment System (AePS) has been enhanced. Two-factor authentication (2FA) has been included in AePS Agent apps to prevent unauthorized transactions. Now, only one AePS transaction is permitted every 30 minutes.
Starting from June 30, L0 Biometric Devices will no longer be used, and only L1 biometric devices will be allowed for Aadhaar-based authentication. L1 biometric devices have added encryption security within the device.
Additionally, when conducting AePS cash withdrawals, the agent’s authentication is also required.
Disadvantages of de-linking Aadhar with your Bank Account
Government connects subsidies or welfare benefits to bank accounts linked with Aadhaar, it helps transfer these benefits directly to the right people. If you decide to remove your Aadhaar from your bank account, it might stop these benefits from reaching you easily. This could cause delays or problems in getting the subsidies or benefits that used to come to your account automatically.
Conclusion
The AEPS service has provided many benefits to people in India, but some individuals may want to disable the service due to personal preferences or privacy concerns. Disabling the AEPS is a straightforward process that involves visiting your bank, submitting a written request, and waiting for confirmation.
By following these steps, you can easily disable the AEPS service for your account.
Frequently Asked Questions
Why would I want to stop AEPS Cash Withdrawal?
Some individuals may have personal preferences or privacy concerns that lead them to want to disable the Aadhaar Enabled Payment System (AEPS) and stop AEPS cash withdrawal.
How can I disable the AEPS service using internet banking?
To disable the AEPS service through internet banking, log in to your internet banking account and look for the option to disable AEPS Cash Withdrawal. If you find a service called “De-link Aadhar with bank account,” you can use it to stop AEPS cash withdrawal without needing to visit the bank.
What documents do I need to disable AEPS service at my bank?
If you choose to visit your bank to disable the AEPS service, you’ll need to take a photocopy of your Aadhaar card and your bank passbook with you. Additionally, you may need to fill out a written request or application form provided by the bank.
How long does it take to disable the AEPS service after submitting a request at the bank?
After submitting your request at the bank to disable the AEPS service, you may need to wait for confirmation from the bank. This confirmation could be sent to you via email, SMS. The timeframe for processing the request may vary depending on the bank’s procedures.
What happens after I disable the AEPS service?
Once the AEPS service is disabled for your account, you will no longer be able to perform AEPS related transaction such as balance inquiry, mini statement and cash withdrawal. This means that you will need to use alternative methods for cash withdrawals or transactions.
Are there any disadvantages to unlinking Aadhaar from my bank account?
Yes, unlinking Aadhaar from your bank account could potentially disrupt the seamless transfer of government subsidies or welfare benefits that are tied to Aadhaar-enabled bank accounts. This could result in delays or difficulties in receiving these benefits.
