Wells Fargo Users Can Use Smartphone and SmartWatch To Withdraw Money

May 22, 2017

Wells Fargo Users Can Use Smartphone and SmartWatch To Withdraw Money

Wells Fargo users can now use their smartwatch or smartphone to take money out of any of its 13,000 ATMs within the U.S. The bank supports Android Pay, Apple Pay and Samsung Pay. 5,000 ATMs are currently supporting these NFC payment systems, and others will soon follow.

According to TechCrunch, both Wells Fargo and Bank of America had looked into adding Apple Pay into their ATM networks. Bank of America began issuing cardless ATMs in summer 2016 that supported Android Pay, Apple Pay, Microsoft Wallet and Samsung Pay.

Wells Fargo is currently doing the same thing but is not including Microsoft Wallet. The bank wants to make things easy for customers that use credit card for their card transactions without the need to carry their debit card.

To use the option, customers will have to place their phone on the NFC sticker and verify their fingerprint. However, a PIN number is still required before money can be withdrawn.

For people with an older model phone, money can still be withdrawn without a debit card using the bank's app. Upon signing on, the bank sends the user a temporary eight- digit code to replace the card.

Does this mean Chase and Citibank will do the same thing? Only time will tell.