IPPB revises charges for Adhaar enabled payments; here all you need to know

The India Post Payments Bank has increased charges for the Aadhaar Enabled Payment System service. The revised AePS Issuer transaction charges will be effective from December 1, 2022

The India Post Payments Bank (IPPB) has increased charges for the Aadhaar Enabled Payment System (AePS) service. The revised AePS Issuer transaction charges will be effective from December 1, 2022.

Aadhaar Enabled Payment System is a payment service through which a bank customer can use his/her Aadhaar to access his/her respective Aadhaar-enabled bank account and perform basic banking transactions like balance enquiry, cash deposit, cash withdrawal, and remittances through a Business Correspondent.

According to the latest notification, AePS issuer cash withdrawals and cash deposits will be charged at Rs 20 plus GST on each transaction that exceeds the free transaction