Wells Fargo Bank announced a new feature that allows customers to have card-free access to all its 13,000 ATMs throughout the United States.
Using the company’s One-Time Access Code technology, customers can authenticate their accounts at an ATM using an 8-digit token and their debit or ATM card Personal Identification Number (PIN), instead of a physical card.
Wells Fargo’s mobile banking is the company’s fastest growing channel, reaching a milestone of more than 20 million active customers in March.
“At Wells Fargo, we believe the future is cardless, and the launch of One-Time Access Code provides our 20 million mobile banking customers another convenient way to manage money,” Brett Pitts, head of digital for Virtual Channels, said. “This new ATM feature exemplifies Wells Fargo’s commitment to innovation.”
Customers first log into the Wells Fargo mobile app, select Card-Free ATM access under Account Services, and request a one-time-use, 8-digit access code. Upon arriving at the ATM, he or she simply enters the code and their debit or ATM card PIN, then proceeds to the main menu to perform their transaction.
“Mobile continues to be the channel of choice for millions of our customers, so it only makes sense to leverage it for new, convenient ATM experiences,” Adam Vancini, head of operations for Virtual Channels, said. “Whether a customer happens to have a card on them or not, One-Time Access Code provides another simple and secure way to withdraw cash at any of our ATMs.”
Later this year customers will be able to initiate a cardless ATM transaction with the “tap and pay” technology in an NFC-enabled smartphone. A customer will be able to initiate a transaction by signing into a leading mobile wallet (Wells Fargo Wallet, Apple Pay, Android Pay or Samsung Pay), and holding the phone near an NFC-enabled ATM terminal. Once authenticated, the customer will input their debit or ATM card PIN and complete their transaction. More than 40 percent (more than 5,000) of Wells Fargo ATMs are currently NFC-enabled.
“Every time a customer walks up to an ATM or into a branch, chances are they’re carrying a phone, and we believe the real power of mobile is the ability to enhance the customer experience at our ATMs and branches,” Jonathan Velline, head of branch and ATM banking, said. “We’re excited to provide our customers with more ways to conveniently and securely make ATM transactions.”