Cardless Withdrawals With Touch ID Coming to Over 70,000 ATMs Across the U.S.

[Loco Emperor]

Wait. People still use cash?!

I always try to keep $100 on me in cash as I have ran into issues where ATM systems are down.

I went to get gas and they were only taking cash as the debit system was down.
Given how many stores are being hacked, until they better secure their systems, I probably should use cash more even though I hate keeping up with it.

 

[thisisnotmyname]

MCX come back? I just want my bank to support Apple Pay at ATMs.

 

[runeapple]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

In UK pretty much every ATM is free

 

[vooke]

But where does Pokemon fit into this article?!

You can withdraw Pokemon balls from approved ATMs

 

[BruiserB]

Love this. Never pay ATM fees so I can use this anywhere. One less card to carry (hopefully)

Well it will only work at the ATMs owned by this group, so you'll still need your card unless you know where they are and they're convenient to you.

I suppose they should put an ATM locator in their app. That would drive people to their ATMs and they would increase their fees collected. My bank also reimburses ATM fees; just hope this will be processed as a withdrawal and fee and not as a single purchase for $22.50 or something like that when I take out $20.

 

[a.gomez]

How's that gonna work? Scan QR Code on ATM, then choose card in your Wallet to In-App ApplePay with and process the withdrawal? That's the best way I can see it working....at least it would use ApplePay for security.

A worse variation would be to have to somehow enroll and store your ATM card within a separate (less secure) app.

Nothing to do with apple pay. This runs on their QR based CardlessCash platform. They have a video here

All they doing is enabling touchiD So i guess you do not need to do the pin part.

 

[Primejimbo]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

I have yet to have any fees from my bank using an ATM. I hope my bank starts this soon.

 

[Mac 128]

Note: TouchID via an app /= ApplePay.

Good first step but ... Seems optimized to increase security and reduce physical CAPEX for banks at the expense of convenience and security for customers.

If it's "take photo of a QR-code" with an app, or wake app on phone via BT or NFC, and subsequent authentication via Touch ID in iPhone and PIN entry on the ATM, it's not really Apple Pay.

Although it is an improvement of sorts over inserting a card, typing a pin and defining transaction, it is lousy compared to the alternative. It may be slower than a card approach for many users and result in more exposure for customer as they go thru a number of fiddly steps.

This process could be vastly streamlined and made safer for the customer (less time at ATM by:
1) allowing customer to prepare transaction prior to facing terminal (like in car), and
2) upgrading the terminals to include NFC antennae that allow customers to present prepared transaction on device and to authenticate, grab cash and run.

I don't disagree but all that hardware costs money. Much easier to implement a system that can be used on all phones. This article discusses only the iPhone app, but I don't see why this can't be used with any phone, just like Wal-Mart Pay. Even Touch ID uses pin codes to enable it. So I really don't see why Touch ID is even required. Considering how the article is written I have to wonder whether this is in fact the case. If so, it means the iPhone 5s works, even though it doesn't have the "Secure Element" of later iPhones.

While ATMs aren't likely going anywhere, I see them as an ever decreasing means of getting cash since almost any grocery store will do for withdrawals. Investing heavily in updating the infrastructure which can only be use with a very small number of smart phones currently doesn't seem like the best use of funds.

 

[Larry The L]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

What fees? I don't pay any fees. Get a better bank.

 

[jayducharme]

Only Bank of America has announced plans to add NFC to their ATMs.

I know that banks with their billions of dollars are reticent to spend money on new ATMs with NFC. But wouldn't that save them money in the long run, reducing fraud? NFC-enabled ATMs make so much sense.

I agree with dbc34 though: it's easy enough to get cash back when shopping at stores that have enabled Apple Pay.

 

[blacktape242]

Wait. People still use cash?!

HA! love that!

 

[cwagner1]

Why would it not work just like Apple Pay in the store. I would foresee some type of NFC chip reader in the ATM that you would touch your iPhone or Apple Watch to. Then you would select the card you would like to withdraw funds from. Authenticate with your fingerprint.

Because the article said it was QR based and used touch ID, not Apple Pay.

 

[a.gomez]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

If you use the bank ATM it is free. CHASE is everywhere in NYC. They even have CHASE branded ATMs in pharmacies. I like walking around with a bit of cash on me. But yeah, usually just get it at the supermarket at the register.

 

[dontwalkhand]

But where does Pokemon fit into this article?!

Some could hang around the ATM

 

[gstevie]

I

Excellent Idea, now all I have to do is the wait the customary 2/3 years before this gets rolled out in Canada.

If at all in backwards countries like the UK! I'm still amazed we got Apple Pay when we did!!

 

[deany]

very cool, good to see apple pay is gaining traction - when will this be available in the UK?
apple pay via apple watch 8 out of 10 purchases now. (not including online).

 

[BlueCreek]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

So ATM's in the US charge you if you don't bank with them? I've never heard of this, every ATM in the UK is free to use no matter who you bank with.

 

[wigby]

There are plenty of WF ATMs around me. No fees because I bank with them.

I only use ATMs when they are my bank to avoid fees. The problem is that most ATMs here in the city are not my bank and most businesses are cash only. In addition, many ATMs have limits like only $20 or $40 withdrawals. So those $2 and $3 fees quickly become 5% and 10% of all cash withdrawn for stupid people that use them constantly. There are a lot of stupid, poor people where I live.

 

[ArtOfWarfare]

I went cash free two years ago. My wife followed a few months ago.

There's very few places that only take cash, and they're just out of luck if they want you as a customer - there's no shortage of alternatives who will provide you with the same service and accept cards.

All I carry with me is my iPhone, Credit Card, Driver's license, and keys.

 

[Chupa Chupa]

How many people still use ATMs with their horrible fees? I just get cash when I do business at a store that offers cash back.

Set up an account at Fidelity or Schwab and all fees from at any ATM worldwide are immediately reimbursed to your account.

So to answer your question, I don't use cash a lot, but yes, when I need it I use an ATM -- fee free.

 

[deany]

ATMs free in UK folks always gave the silly fee ATMs a wide birth.
Rarely have cash, often go out now without cards just use apple watch.

 

[iWombBanger]

Why is everyone trying to QR Codes. It seems like 2 steps forward, 1 step back with these companies.

 

[wigby]

Wait. People still use cash?!

Have you been to any bar, store or service center lately? Most are cash only in major cities. They avoid credit card fees and avoid paying taxes too.

 

[tivoboy]

This technology at POP would be great and really help with reducing card skimmers at ATM and gas stations, etc.

 

[ValiumEater]

Anyone know who the redhead is?