Bank of America Corp and JPMorgan Chase & Co are among the banks that have announced digital upgrades to their ATM infrastructure, but Wells Fargo is the first US bank to roll out cardless machines across its entire network.
The 20 million customers on Wells Fargos mobile banking app will be able to request an eight-digit code to enter along with their personal identification code at an ATM to retrieve cash.
The new feature allows customers to withdraw cash at any time, even when they dont have their cards on them, according to Wells Fargo.
As have many other US lenders over the last years, Wells Fargo has invested in the development of digital tools to attract customers and slash costs at its retail branches.
Digitalizing services is unquestionably the way to the future and the arguments are very powerful, but US banks are still far behind, according to a consultancy company.
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