Role of AEPS Cash Deposit Service in Agricultural Areas
A cash deposit is a banking facility that enables bank consumers to deposit funds in a bank account. There are different ways of cash deposit either you can visit your bank branch or you can also deposit cash by going to a nearer cash deposit machine.
It seems very easy and effortless but it is not.
There are many sections of our population that are not utilizing banks and ATMs today. In India, there are still so many farming and semi-urban areas where no banks and ATMs are accessible.
To terminate this trouble, the government has introduced AEPS services.
As we acknowledge AEPS service is the most well-liked in all rural and semi-urban areas where people got introduced by banking services through AEPS.
Now people can also deposit cash in their accounts by utilizing the AEPS cash deposit service, mainly in agricultural areas.
What are the Advantages of Utilizing Cash Deposit Service?
If we consider a consumer, now by utilizing AEPS cash deposit service, they will be capable to deposit funds in their bank account in farming areas where banks and ATMs are not obtainable.
As a head, this is also a stupendous service that you can provide to your consumers by utilizing Roundpay's up-to-date AEPS portal.
There are a few advantages of the cash deposit service which make it significant.
High Commission
By utilizing the cash deposit service, now the head, as well as consumers, can obtain a high commission on every transaction. So it sounds really magnificent when you get one more facility in AEPS which is adding commission to your wallet.
OTP Based
There are two kinds of cash deposit services that you can utilize via AEPS. The first one is an Aadhar-based cash deposit facility which is moderate with a quiet victory ratio, another one is OTP based cash deposit service which is rapid and has a 99% escalated victory ratio.
Highly Protected
However, this is OTP-based and consolidated by UIDAI making it the secure and most protected banking service.
Bit by Bit Guide to Deposit Cash Utilizing AEPS
Go to your nearer business contributor & provide:
- Bank account number
- IFSC code & your bank name
- Depositing amount
- Mobile number
- After providing all the information you will get OTP on your mobile number
- Fill in the OTP & submit
- The money will be deposited in the receiver’s bank account
So these are the effortless steps to depositing cash in the recipient's account. Amount deducts from the AEPS wallet and the agent gets the commission.
Conclusion
So here we acknowledged what the cash deposit facility is, its advantages, and how can you deposit cash in a recipient account.
If you are looking to set out your own AEPS business and searching for an excellent AEPS service Provider Company in India then go ahead with your own brand mini bank business with Roundpay and obtain the elevated commission in the market