ATM's & Apple Pay?

[w4rm]

So using Apple Pay won't mean ditching our wallets until we can withdraw cash from ATM's.

Do you think ATM's will support this in the future? That's bank or local ATM's.

 

[starlight0229]

I know that some people still use cash, but I can count on two hands the number of times I've used cash this year. And a lot of those times I've acquired the cash by getting cash back when making a purchase. I've probably used an ATM twice in 8 and a half months.

 

[Neokiller309]

So using Apple Pay won't mean ditching our wallets until we can withdraw cash from ATM's.

Do you think ATM's will support this in the future? That's bank or local ATM's.

I believe they eventually will. Seeing as a bunch of major banks are partnered with Apple for Apple Pay. I'm guessing they might implement a 2-step verification for that though, Such as Touch ID & Pin.

I don't see why they wouldn't eventually. Banks like Wells Fargo have apple pay plastered all over their homepage. https://www.wellsfargo.com/

Edit: And it looks like, According to Wells Fargo at least, Apple Pay will work with ANY retailer that accepts NFC.

 

[w4rm]

Good point! Cashbacks would be the simple solution if ATM's aren't supported.

 

[trophynuts]

i have been wondering/hoping for the same thing. Luckily I bank with WF so hopefully that helps. I don't use an ATM much either but it would be nice to use the phone for that.

 

[jlake02]

Hadn't thought of that.. I bet banks include the feature when they release new ATMs. 🙂

 

[jhuynh]

Wait... aren't you guys in the US charged ridiculous interest fees on cashback from a credit card or am I missing something? Do people really take cash advances from their credit card?

 

[starlight0229]

Wait... aren't you guys in the US charged ridiculous interest fees on cashback from a credit card or am I missing something? Do people really take cash advances from their credit card?

In the US, if you make a purchase with your debit card (which is branded by either Visa or MasterCard) you can chose to receive cash back at the time of your purchase. It just increases the amount of money withdrawn directly from your bank account for the purchase. It is not a cash advance from a credit card.

 

[jhuynh]

In the US, if you make a purchase with your debit card (which is branded by either Visa or MasterCard) you can chose to receive cash back at the time of your purchase. It just increases the amount of money withdrawn directly from your bank account for the purchase. It is not a cash advance from a credit card.

Okay that makes more sense if you're using a debit card. I didn't realise your debit cards had visa/mastercard branded on them.

 

[DirtySocks85]

Okay that makes more sense if you're using a debit card. I didn't realise your debit cards had visa/mastercard branded on them.

Yup, the banks use the big CC companies as payment processors on their debit cards. I would assume this helped them avoid a lot of development on the back end for them.