Settings > Touch ID & Passcode > iPhone Unlock: off
But you will have to keep pass code on. If you turn off pass code then it doesn't work.
"but I do NOT want a Passcode setup on my phone." - which is exactly what I do not want. I've head iffy things about the TouchID after updates or restores, and don't want to deal with that. It's lame that it isn't more customizable.
Just curious, but why so averse to having a passcode set on your phone? You can set it for every 4 hours which is good enough for being non-intrusive most of the time. You'd need to unlock your phone in the morning if you sleep longer than 4 hours.
(No judgment here but I can't imagine not having a passcode set to protect iPhone's contents.)
I'm not sure about iPhone but on my iPad Mini-R with iOS 7.1.2 (without fingerprint recognition), Settings > Passcode allows intervals before passcode is required:
Immediately
After 1 minute
After 5 minutes
After 15 minutes
After 1 hour
After 4 hours.
With Touch ID enabled, the only choice is Immediately.
Well, that sucks. Especially if you're at home and have to remember to set the passcode every time you leave.
Well with Touch ID, it's really easy..You hit the home button anyways to wake the phone, just your finger there for a fraction of a second longer and the phone unlocks. I just keep it on all the time because it's so damn quick. It takes me less time to unlock the 5s using Touch ID than it does to unlock my wife's 4s with no passcode. Having to swipe to unlock is way slower than just resting your finger on the home button for a split second longer.