Customers of Wells Fargo may now withdraw cash from ATMs without cards, using their mobile phone

27 March 2017

wells fargoKeeping up the pace of increasingly growing popularity of mobile transactions convenience Wells Fargo is introducing the new functionality to allow its 20 million mobile customers to withdraw cash from its 13,000 ATMs across America. Effective from today the new service enables customers to use their mobile applications in order to log into their bank account and request the card-free ATM access, whereupon they receive a one-time digital code to authorize the transaction.

Apart from entering the code, mobile users will also have to routinely enter their PIN to complete the transaction. Spokesperson for Wells Fargo notes that given the strengthening position of cardless services, the company believes the new service will add value and convenience for their clients in managing their money.

While the service is greatly convenient as compared with the use of the card at the ATM, it features higher security, because customers do not take card with themselves, get a one-time code and as usual complete the transaction authorizing it with the fingerprint.

As of today Wells Fargo is the only major US bank to initiate cardless cash withdrawal across its locations, however, it is not the first to implement the technology, as last year Bank of America and JPMorgan Chase started limited introduction of similar services.

Wells Fargo remains confident that mobile services are increasingly getting a preferred choice for customers, therefore the launch of the cardless ATM access makes sense ensuring new customer experience.

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