Can’t be bothered to carry a debit card, but need some cash on the go? Not a problem for Wells Fargo customers with smartphones, as the bank is rolling out its cardless technology at all of its roughly 13,000 cash machines.
The new digital upgrades will roll out starting Monday, after the company says a test of the system in select locations around the U.S. worked out well, reports Reuters.
Here’s how it will work: Customers using the Wells Fargo app request an eight-digit code to enter along with their PIN at an ATM, and voila! Cash spits out.
Along with giving customers access to cash without a card, the new feature will help prevent data theft, Jonathan Velline, Wells Fargo’s head of ATM and branch banking, tells Reuters.
“Security certainly was a big aspect of the cardless feature and the two-step identification helps reduce the risk of fraud,” Velline said, adding that without cards, card skimmers will have a harder time stealing that information.
While Bank of America and JPMorgan Chase have also implemented new ATM technologies, Wells Fargo is the first of the U.S. big banks to have its entire network have cardless capabilities, notes Reuters.
Wells Fargo has been busy trying to make up with customers after its recent fake account fiasco perpetrated by employees who opened more than two million unauthorized accounts. As a result, customers have been avoiding opening new accounts and credit cards with the banking biggie. So if there’s anything Wells Fargo can do to improve itself in its customers’ eyes — like cardless ATMs — it’s going to try it.
Source: Consumer Reviews