If the AEPS (Aadhaar Enabled Payment System) service of SBI (State Bank of India) is disabled, it typically means that the bank has temporarily suspended or deactivated the service for some reason. This could be due to technical issues, regulatory requirements, security concerns, or other operational reasons. Customers may not be able to use AEPS functionalities like cash withdrawal, balance inquiry, or fund transfer using Aadhaar authentication until the service is restored by the bank.
state bank of india aeps limit
TRANSACTION CHARGES AT BUSINESS CORRESPONDENT (FI) CHANNEL
| Cash withdrawal(Maximum ₹ 30,000/-)CIF/AePS (ONUS)/m-ATM(ON-US)/Branch | Four Cash withdrawals in a month: Free The charges for transactions in excess of first four free withdrawals excluding Digital Transactions: ₹ 15/- + GST per transaction. |
| Cash Withdrawal (Maximum ₹ 10,000/- Debit Card (OFF-US) /AePS (OFF-US) | |
| Immediate Payment Service (IMPS) Cash- Max ₹ 5,000/-(Monthly Cap- ₹ 25,000/-) Transfer- Max ₹ 30,000/- (Monthly Cap – ₹ 60,000/-) | 0.70% of remittance, Minimum ₹ 10/- and Maximum ₹ 35/- |
| 0.70 % of remittance, Minimum ₹ 10/- and Maximum ₹ 100/ | |
| N E F T Upto ₹ 10,000/- Above ₹ 10,000/- & upto ₹ 30,000/- | ₹ 2/- + GST |
| ₹ 4/- + GST | |
| Bill Collection Service (BBPS) Electricity, Gas, Water & Telecom) (Mobile Pre-paid, Post-paid, landline Post-paidUpto ₹ 1,000/- Above ₹ 1,000/- | Customer Convenience Fee (CCF) (Including GST) ₹ 5/- ₹ 15/- |
Why is sbi account’s aeps closing?
There could be various reasons why SBI (State Bank of India) may close or temporarily suspend AEPS (Aadhaar Enabled Payment System) services for certain accounts:
- Regulatory Compliance: SBI may temporarily suspend AEPS services for specific accounts to ensure compliance with regulatory requirements imposed by the government or regulatory authorities.
- Security Concerns: If there are security breaches or concerns related to certain accounts, SBI may suspend AEPS services as a precautionary measure to protect customers’ funds and personal information.
- Account Status: Accounts that are inactive or dormant for an extended period may have their AEPS services suspended until the account holders reactivate their accounts or fulfill certain criteria set by the bank.
- Technical Issues: Temporary closures of AEPS services may occur due to technical glitches, system maintenance, or upgrades being conducted by SBI’s IT infrastructure.
- Fraud Prevention: SBI may suspend AEPS services for accounts suspected of fraudulent activities until further investigation is conducted to ensure the security and integrity of the banking system.
- Policy Changes: Changes in SBI’s policies or procedures related to AEPS services may lead to the suspension or closure of AEPS for certain accounts.
Customers affected by the closure or suspension of AEPS services should contact SBI’s customer service for clarification and guidance on how to resolve the issue and restore access to AEPS functionalities.
AePS Details:
AEPS (Aadhaar Enabled Payment System) is a secure payment mechanism that allows customers to carry out banking transactions using their Aadhaar number and fingerprint authentication. It enables financial inclusion by providing basic banking services to individuals in remote areas where traditional banking infrastructure may be limited.
Key features of AEPS include:
- Aadhaar Authentication: Customers can authenticate their identity using their Aadhaar number and biometric (fingerprint) verification.
- Basic Banking Transactions: AEPS allows users to perform basic banking activities such as cash withdrawal, balance inquiry, fund transfer, and deposit using Aadhaar authentication.
- Interoperability: AEPS is interoperable across different banks and financial institutions, allowing customers to access their accounts and conduct transactions through any AEPS-enabled bank or business correspondent outlet.
- Secure and Convenient: By leveraging Aadhaar biometric authentication, AEPS offers a secure and convenient way for individuals, especially those without traditional identity documents, to access banking services.
- Financial Inclusion: AEPS plays a crucial role in promoting financial inclusion by extending banking services to unbanked and underbanked populations in remote areas, thereby empowering them economically.
Overall, AEPS serves as a vital tool in advancing the government’s goal of expanding financial services and promoting digital transactions across India.
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