Some people don't like using a debit card at the ATM to get cash. Some banks have made it possible that customers don't need a debit card to withdraw cash from their account. Wells Fargo is the first major bank that allows customers to withdraw money from its 13,000 Cash Machines without a card. Instead of a debit card, customers must use their smartphones. People who don't have smartphones can use their Debit Cards as they have always done.
Cardless cash withdrawal
The company has tested the system in select locations around the world, and the cash machines were ready on Monday, March 27 to be used by customers who prefer getting cash without using a debit card.
The procedure is quite simple. Customers must use the wells fargo app. First, they must request an eight-digit code to enter along with their PIN at an ATM.
Most bank users say they love this new technology because they feel safer withdrawing cash without a card at the ATM. In the past, they have been afraid that their data would be stolen by thieves. Now, that's one thing they don't have to worry about.
Benefits of new service
The new service will cut down on theft, according to Jonathan Velline, Wells Fargo’s head of ATM and branch banking. He says the two-step identification process will help reduce the risk of fraud. Since no card is used, card skimmers will have a much harder time stealing a customer's bank information.
Those who have used the service since its debut say they are enjoying not having to keep up with a debit card.
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Even though Wells Fargo is the first of the major banks in the United States to have the cardless capabilities, Bank of America and JPMorgan Chase have also implemented new technologies for withdrawing cash from their ATMs.
In the future, more banks are going to use the service.
How do you feel about the cardless cash withdrawal system? Do you think it is something you will use, or will you continue to use your debit card to make a cash withdrawal? According to social media, most people think it is a wonderful idea.
