The new feature enables its customers with smartphones to withdraw cash from select Bank of Hawaii ATMs without the use of a card. According to the bank, it is the first financial institution in Hawaii to provide the service. The feature is meant to reduce the risk of fraud such as card skimming and “shoulder surfing” and reduce the chances of customers’ PINs being stolen.
How it works? After selecting an amount to withdraw in the mobile app, customers are given a unique one-time-use QR code that they can scan at a Bank of Hawaii ATM. The entire withdrawal process takes about 15 seconds. The cardless cash feature will be available at 185 ATMs at its branches, in-store branches and retail locations.
The bank plans to expand the feature to its entire network in Hawaii and the West Pacific region by early 2017 and expects it to be installed on all of its ATMs by the end of 2017.
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