TMIB Lite: Cardless ATMs: No Card? No problem!
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute or at your desk.
Topic: Cardless ATMs: No card? No problem!
Start time: 1:18
In a press release in August 2018, Chase announced that customers can get cash through their phone’s mobile wallet at nearly all of its 16,000 ATMs nationwide, as well as gain access to all ATM vestibules outside of the branch. That means customers can now select a virtual debit card in their mobile wallet on their phone instead of a physical card to get cash. The technology is not new. Articles in early 2016 touted the technology at Chase and Bank of America, and in early 2017 Wells Fargo announced that customers had card-free access to all of its 13,000 ATMs, coast-to-coast. Even smaller institutions such as Fifth Third in Ohio and Wintrust Financial, which operates community banks in Illinois and Wisconsin, offer the technology. Does your bank have cardless ATM access? Do you need it?
Watch for episode 33 of This Month in Banking to be released on Wednesday, September 26, 2018 and a new full episode plus a lite episode on the last Wednesday of every month.
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