What is Cash Deposit and Why Should You Care?

Role of AEPS Cash Deposit Service in Rural Areas

Cash deposit is a banking service which allows bank customers to deposit fund in a bank account. There are various methods of cash deposit either you can go to a bank branch or you can also deposit cash by visiting a nearby cash deposit machine.

It looks very simple and clear but it is not.

There are many sectors of our society that are not using banks and ATMs till today. Plenty of rural and semi-urban areas are still situated in India where no bank and ATM available.

To eliminate this problem, I am here with a great AEPS service.

Yes, As we know AEPS service is most popular in all rural and semi-urban areas where people introduced banking services through AEPS.

Now people can also able to deposit cash in their accounts by using AEPS cash deposit service, especially in rural areas.

What are Benefits of Using Cash Deposit Service?

If we talk about as a customer, now by using AEPS cash deposit service, they will be able to deposit funds in their bank account in rural areas where banks and ATMs are not available.

As an Admin, this is also great service that you can offer to your members by using Ezulix advanced AEPS portal.

There are few benefits of cash deposit service which make it important.

High Commission

By using cash deposit service, now admin, as well as members, can earn a high commission on each & every transaction. So It sounds really great when you get one more service in AEPS which is adding commission in your wallet.

OTP Based

There are two types of cash deposit service which you can use through AEPS. First one is Aadhaar based cash deposit service which is a little bit slow with a low success ratio, another one is OTP based cash deposit service which is fast and has 99% high success ratio.

Highly Secured

Although, this is OTP-based and centralized by UIDAI makes it the safest and secure banking service.

Steps by Step Guide to Deposit Cash Using AEPS?

  • Visit to your nearby business correspondent & provide
  • Bank account number
  • IFSC code & your bank name
  • Depositing Amount
  • Mobile Number
  • After submitting you will get OTP on your mobile number from the bank
  • Fill the OTP & Submit
  • Amount will be deposited in the beneficiary account

So these are easy steps to depositing cash in the beneficiary account. Amount deducts from the APES wallet and the agent earns the commission.

Conclusion

So here we learn what cash deposit service, its benefits is and how can you deposit cash in a beneficiary account.

If you are planning to start your own AEPS business and looking for the best AEPS service Provider Company in India then start your own brand mini bank business with us & earn the highest commission in the market.

You can also apply for a Free LIVE Demo of our updated AEPS portal.

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