AEPS & MICRO ATM Service Available
AEPS & MICRO ATM Service Available: No more trips to the bank or ATM! Visit our CSC Centre to conveniently withdraw cash, transfer fund and check your account balance. We offer both AePs and Micro ATM facilities for your banking needs.
AEPS & MICRO ATM Service
A Micro ATM, short for Micro Automated Teller Machine, is a compact and portable electronic device that allows basic banking transactions to be carried out in locations where traditional ATMs or bank branches are not readily available. These devices are designed to bring banking services closer to people in remote or underserved areas, providing access to financial services without the need for a physical bank.
Here are some of the key features and functions of a Micro ATM:
- Cash Withdrawal: Users can withdraw cash from their bank accounts by swiping their debit or ATM cards through the Micro ATM device. The device communicates with the user’s bank to complete the transaction.
- Cash Deposit: Some Micro ATMs also support cash deposit, allowing users to deposit money into their bank accounts. This feature is especially useful in rural areas where people may need to deposit their earnings.
- Balance Inquiry: Users can check their account balance using a Micro ATM to know how much money is available in their account.
- Fund Transfer: Micro ATMs may enable fund transfers within the same bank or to other banks. Users can transfer money to other bank accounts through these devices.
- Bill Payment: In some cases, Micro ATMs may also support bill payments for utilities like electricity, water, and mobile phone services.
- Mini-Statement: Users can obtain a mini-statement of their recent transactions, allowing them to track their banking activity.
- Aadhar Enabled Payment System (AEPS): Micro ATMs are often integrated with the Aadhar authentication system, which allows people to use their Aadhar numbers and biometrics for banking transactions, further expanding financial inclusion.
Micro ATMs are typically operated by banking correspondents, who are individuals or agents appointed by banks to provide banking services in remote or rural areas. These correspondents use Micro ATMs to serve customers who may not have easy access to traditional banking infrastructure.
Micro ATMs have played a crucial role in promoting financial inclusion and expanding access to banking services in India and other countries with underserved or unbanked populations. They are a part of the broader financial inclusion initiatives aimed at reducing the dependency on physical bank branches and making banking services more accessible to a wider population.