The government is taking all the steps to make Aadhaar card the base of most of the legal and administrative procedures. The government has off lately continuously encouraged and pushed people to link Aadhaar card with their bank account.
One of the most beneficial features of linking bank accounts to Aadhaar cards is that you can hence receive the various benefits and subsidy amount under different government schemes directly in your bank account.
Steps to link Aadhaar card with your bank account
Linking Aadhaar card through net banking:
The process of linking the bank account with Aadhaar card through net banking is extremely easy and is done in just a few minutes. Here is a step-by-step process:
- Log into your bank account
- Click on Aadhaar Card Seeding or Update Aadhaar Card Details
- Enter the required card details on the next page
- Click on Submit
- You will receive a One-Time Password (OTP) on your mobile number
- Verify through the OTP and you Aadhaar card will be linked to your bank account
After this process, you can also check for the linkage by dialing *99*99# from your mobile phone. The linkage confirmation facility is provided by National Payments Corporation of India (NPCI) at the cost of Rs. 1.50 per call.
Requesting to link Aadhaar card at the bank:
With no internet banking, you need to fill the Aadhaar to Bank Account Seeding Form to request for linking your bank account and Aadhaar card. You can either download the Aadhaar Seeding form from the website of your bank or visit the bank. If you have downloaded the form from the banks website, fill it up with the necessary information and visit your bank to submit it.
The bank personnel will verify your details, update your information in banks database, and link the Aadhaar card to your account. However, if you do not have online banking activated on your bank account, you can get it activated by visiting your bank branch and filling the Internet Banking form.
How does linking Aadhaar card with bank account help?
The government has also introduced Aadhaar Enabled Payment System (AEPS) an Android based mobile app which helps anyone who has linked his/her bank account with his/her Aadhaar card to do hassle free financial transactions.
AEPS uses micro ATM machines which look similar to the PoS machines. But the difference in the two is that the former uses biometric data, i.e. fingerprints or iris image for authentication for payments. With the help of micro ATM machines you can:
- Withdraw/deposit cash,
- Transfer funds among various Aadhaar card holders,
- Check the bank balance
For making payments, you will be required to provide your Aadhaar number, bank name, and scan your fingerprint on the scanner which is attached to the micro-ATM.
Considering that AEPS uses the biometric data, i.e. iris image or fingerprints for financial transactions, the chances of fraudulent activities can be reduced up to a great extent, as the fingerprints are different for every individual.
With demonetization by the government, i.e. banning of Rs. 500 and Rs. 1000 notes, the process to link Aadhaar card with your bank account is apparently a wise step, to safeguard yourself in the future.
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