In many areas, despite the prevalence of digital transactions, there are still occasional issues such as server downtimes, making cash withdrawals necessary. In response, India Post has introduced a new doorstep banking service to alleviate the need for the elderly and disabled, who may otherwise depend on others, to physically visit banks or ATMs.
The banking sector is rapidly transitioning towards digital operations with a widespread adoption of cashless and QR code-based transactions. However, the necessity for holding some cash persists due to the unavailability of digital services in some regions or unexpected technical issues.
In such circumstances, people often keep a certain amount of cash at home withdrawn through banks or ATMs. To address this, especially for those unable to visit banks or ATMs,
India Post has launched a doorstep banking service. This service allows for cash withdrawals at home, facilitated by the India Post Payments Bank (IPPB) through the Aadhaar Enabled Payment System (AEPS).
AEPS, or Aadhaar Enabled Payment Service, is a system that operates via Aadhaar biometrics, enabling access to bank accounts for checking balances, cash withdrawals, and remittances without the need to visit a bank. This service is particularly useful in emergency situations where one cannot reach the bank.
To use these services, one’s bank account must be linked with Aadhaar, and the Aadhaar should be linked with a registered phone number. Opting for doorstep banking allows cash withdrawals using biometric verification.
A nominal fee may be applicable, and withdrawals are limited to a maximum of Rs. 10,000. To avail of this service, one must fill a service request form providing details such as name, address, and the nearest post office details.
This initiative is available at all major banks across the country, ensuring accessibility for a broader segment of the population and enhancing the convenience of banking services, making financial transactions feasible right from the comfort of one’s home.