Wells Fargo today announced that it has become the first large bank in the United States to upgrade its entire fleet of ATMs with card-free account access through the One Time Access Code technology. It now offers more than 13,000 card-free ATMs for its more than 20 million mobile customers. Moreover, the company has also confirmed that Apple Pay-based ATM transactions will go live later this year.
Using’s the bank’s One Time Access Code technology, customers can authenticate at an ATM by using an 8-digit token and their debit or ATM card PIN number instead of having to use a physical card.
All customers need to do first is log into the bank’s mobile app and then select Card-Free ATM access under Account Services. They can then request a one-time-use 8 digit access code which is entered into the ATM with the card PIN number.
The idea here is to eliminate the need for customers to carry a physical card with then and to utilize something that they almost always have with them – their smartphone – to enable them to withdraw cash from their accounts.
Wells Fargo has also said that later this year, customers will be able to make cardless ATM transactions with tap and pay functionality of smartphones. Supported services will include Apple Pay, Android Pay, and Samsung Pay.
Users will need to hold the phone near an NFC-enabled ATM terminal for authentication before punching in their PIN to complete the transaction. It points out that more than 40,000 of its ATMs are currently NFC-enabled. This feature will go live later in the year.
Filed in . Read more about Apple Pay. Source: businesswire