Aadhaar card can be used to send money. You can transfer money from your account to another person's account. This is done through Aadhaar-enabled payment system or AePS. This system has been developed by NPCI. This system permits people to send money using Aadhaar card, iris scan and fingerprint verification. This system is said to be a secure payments system.
To send and receive money through Aadhaar, your bank account should be linked to your Aadhaar number. You don't need an OTP or PIN to take out your money. Any number of accounts can be linked to a single Aadhaar card.
AePS can help you take out money, deposit money, Aadhaar-to-Aadhaar fund transfer, mini-bank statement, e-KYC-based finger detection etc.
Here's how you can use AePS: Go to your area's banking correspondent.
Punch your 12 digit Aadhaar number in the OPS machines.
Choose services among withdrawal, KYC, balance enquiry, money addition etc.
Punch in the name of your bank and add how much money you need to withdraw.
Verify your identity by biometrics and collect the cash.
