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

If the fees applied to the store and the bank that issued the card, I will stick to using my credit cards only thru' these systems - like I do now.

Debit cards that have access to my checking accounts are still a threat - they might resolve the issues, but the time taken and the red-tapes in place to negotiate will hurt my transactions at the bank in real time for too long - bounced checks and rejected auto-pay sets are not worth the headache, not in the USA.
 
95% of the time by using my debit card at the grocery store and asking for cash back. There is no fee.

MacBH928 said:
Today I learned:
people no longer use ATMs


How else do you get cash then?
Click to expand...
[doublepost=1468677474][/doublepost]USAA is pretty unique in that regard and not everyone qualifies to be a member of USAA. Many credit unions also reverse fees however, in my experience, they require a minimum account balance and a minimum number of debit card pin transactions.

pjarvi said:
Some banks like USAA refund ATM fees charged by any 3rd party bank/ATM. The refund is typically paid within 72 hours. You should do business with a better bank.
Click to expand...
 
No one carries their card's in their wallet anymore ?

MacBH928 said:
Today I learned:
people no longer use ATMs


How else do you get cash then?
Click to expand...

People still walk into a bank to deal with real humans .... That's so 90's..

We use ATM machines now... We can just as easily "forget" our mobile, the same way we forget our wallet as well..... so its no different really. And if its still more secure, u gotta go back home anyway for it, so while u'r there u may as well bring your ATM cards with u.
 
Can't remember the last time I used an ATM. Auto debit and ApplePay/Credit Cards are my methods of payment. If I do have cash on hand, it easily lasts me a month or two.
 
dbc34 said:
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.
Click to expand...

The "horrible fees" pay for the hardware used. I imagine there will be hidden fees in the new system or higher costs elsewhere that you'll be less likely to notice and whine about, or if nothing else be convinced that it's okay with a nice warm fuzzy as a result.

Or should everything be free the way Bernie Sanders was somehow convincing people would be? Typical Americans, want everything for free...
 
Cuban Missles said:
I bank with Capital One, but I have an account that refunds all my ATM fees so I really don't care where I withdraw from. Having said that, the whole QR code is so CurrentC. Cant they use the Apple Pay NFC approach? This just does not seem elegant to me.
Click to expand...

Keep in mind that there are literally thousands of these "independent" ATMs all over the US. The owners of these things are small entrepreneurs, mostly. They want to address (or at least appear to address) the very real and growing problem of skimming, without spending hundreds of dollars per unit to upgrade hardware.

Do I like it? No. And as I previously said the PITA of using this solution, along with the fact that I rarely use these third party machines due to their high costs and shady nature means I won't be loading their app.
[doublepost=1468691623][/doublepost]
thermodynamic said:
The "horrible fees" pay for the hardware used. I imagine there will be hidden fees in the new system or higher costs elsewhere that you'll be less likely to notice and whine about, or if nothing else be convinced that it's okay with a nice warm fuzzy as a result.

Or should everything be free the way Bernie Sanders was somehow convincing people would be? Typical Americans, want everything for free...
Click to expand...

I have no problem with independent ATM owners charging fees. It's their business, and their business model. I choose not to participate in the economy of it, however.

What irks me is when my bank charges fees, when we all know there is no real cost to them for my using another bank's ATM. Even if there is a cost it is a very small fraction of what they end up charging.
 
Tech198 said:
We use ATM machines now
Click to expand...

Really?.... Really? ATM MACHINES?

Really...
[doublepost=1468694314][/doublepost]
thermodynamic said:
Or should everything be free the way Bernie Sanders was somehow convincing people would be? Typical Americans, want everything for free...
Click to expand...

Perhaps you should get out and explore the rest of the world.

Rest of the world = Universal healthcare.
Rest of the world = tuition free or low-cost college.
Rest of the world = Metric system
Rest of the world = EMV and contactless everywhere.
Rest of the world = Mandated vacation and holiday time.

I shouldn't have to pay to access my own money at an ATM because the banks like to rob the same taxpayers who bail them out. Of course, I'm smart enough to use a credit union or grocery store cash back feature, so I don't have to worry about it, but still.
[doublepost=1468694525][/doublepost]
rdlink said:
What irks me is when my bank charges fees, when we all know there is no real cost to them for my using another bank's ATM. Even if there is a cost it is a very small fraction of what they end up charging.
Click to expand...

Actually, there is a cost to your bank for using another bank's ATM. Your bank is basically borrowing money from another bank to take their money out of their ATM. Their bank will charge your bank a fee for each transaction placed on your card when you borrow their money. Banks should eat the cost or agree to terms, but of course they won't.
 
wigby said:
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.
Click to expand...

Not true in Seattle. Everyone and their dog here has a square reader or the like.
 
wigby said:
Never heard of no fault clause for debit. It's no different from cash and the transaction is instant so I don't see how any bank would cover that.
Click to expand...

In the USA, the law provides limits for both credit and debit card liability.

A credit card is the most protected, as it maxes out at $50 liability if you fail to report it lost or stolen before it's used. (Zero liability if reported before being used.) Although many banks have a zero liability policy no matter what.

A debit card is similar at first. Zero if reported before being used. If it's used, but you reported it within two days, you're limited to $50 liability. If you wait between 2 and 60 days, it's $500. After 60 days, you have no protection at all.

Note that if you still have your card, and it was simply your card number that was stolen and used (this has happened to my wife with a debit card), then you're not liable at all with either type of card.
 
Last edited:
Love this idea. I wonder why it hasn't already been rolled out yet, even in countries with high adoption of tap-and-pay.
 
dbc34 said:
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.
Click to expand...

USAA refunds all of my ATM fees. So do a lot of other banks / credit unions. I have never used the debit card cash back, because I prefer to pay with credit, so I keep the ability to dispute transactions, and not have actually cash taken from my checking account.
 
kdarling said:
In the USA, the law provides limits for both credit and debit card liability.

A credit card is the most protected, as it maxes out at $50 liability if you fail to report it lost or stolen before it's used. (Zero liability if reported before being used.) Although many banks have a zero liability policy no matter what.

A debit card is similar at first. Zero if reported before being used. If it's used, but you reported it within two days, you're limited to $50 liability. If you wait between 2 and 60 days, it's $500. After 60 days, you have no protection at all.

Note that if you still have your card, and it was simply your card number that was stolen and used (this has happened to my wife with a debit card), then you're not liable at all with either type of card.
Click to expand...

The same $0 liability applies to debit card transactions made with a signature. The law says $50, but since the transaction is sent through the card network instead of the debit network the bank will usually give you a pass.

If your card was ran as debit and the PIN was stolen, then you're probably liable for the $50 or more.
 
American Hero said:
The same $0 liability applies to debit card transactions made with a signature. The law says $50, but since the transaction is sent through the card network instead of the debit network the bank will usually give you a pass.
Click to expand...

That's up to the bank. Legally, it's still a debit card transaction with much less protection.

If your card was ran as debit and the PIN was stolen, then you're probably liable for the $50 or more.
Click to expand...

You're legally liable anyway (see above), but your mention of the PIN brings up an interesting security point:
  • Using it as a debit card + PIN opens the PIN to possible interception, whereas debit + signature does not.
Some other reasons for some people to run the card as credit instead of debit include:
  • Takes longer to show up in their account (couple of days instead of nearly instant).
  • Possible credit card related awards (since the merchant pays much more for the transaction).
  • Possibly not getting hit with a debit card usage fee.
 
kdarling said:
That's up to the bank. Legally, it's still a debit card transaction with much less protection.



You're legally liable anyway (see above), but your mention of the PIN brings up an interesting security point:
  • Using it as a debit card + PIN opens the PIN to possible interception, whereas debit + signature does not.
Some other reasons for some people to run the card as credit instead of debit include:
  • Takes longer to show up in their account (couple of days instead of nearly instant).
  • Possible credit card related awards (since the merchant pays much more for the transaction).
  • Possibly not getting hit with a debit card usage fee.
Click to expand...

I'm not saying you aren't legally liable, but most banks go above and beyond the minimum requirements the government sets for fraud liability. I'm saying the bank will be less willing to help you pay $0 out of pocket if the transaction is run through the debit card network, because:

A) The transaction required a PIN, so you were probably negligent somewhere.

B) Debit card transactions are not as profitable, so the bank is already making less to begin with. There's a reason why credit card transactions cost the merchant more... They pose an higher risk to fraud.
 
We've had this in Belgium for a while now (KBC). Just go to your bank and scan the QR code, no more need for a card, it's perfect as long as you have battery and internet. Since a couple of weeks you can also login at your computer using your phone (and touch ID), also available for online payment.
 
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