The ViewPoint

Chase to offer ATM withdrawal by smartphone

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






By Becky Yerak

Chicago Tribune

(TNS)

Chase will introduce ATMs by the end of the year where customers can withdraw cash using their smartphones as well as debit cards.

For Chase’s cardless ATMs, customers will tap their smartphone onto the ATM, use a fingerprint and type a PIN onto the ATM pad, according to a Chase video. Or customers can request an access code through the Chase mobile app, enter it at the ATM, then enter their PIN for the transactions.

“We’re doing this because the way our customers bank is changing — using their phones, online and ATMs more than going to tellers for routine transactions,” Chase said in a statement. It says ATM transactions now exceed teller transactions. Chase said its ATMs, including the new ones, can perform about 60 percent of the transactions that customers can handle at the teller window.

Most Chase ATMs will get the new software enabling the cardless transactions, spokeswoman Christine Holevas said.

BMO Harris Bank, which in March 2015 announced cardless technology would be installed at 750 ATMs has said the transaction takes about 15 seconds, compared with about 45 seconds for a traditional ATM withdrawal.

“It’s going well, customers really like it, it’s very convenient, it’s secure, and it speeds up time spent at the ATM,” BMO Harris spokesman Patrick O’Herlihy said Tuesday.

The number of BMO Harris ATMs with what the bank calls “mobile cash” capability has risen to 900. “Usage is increasing significantly month over month,” O’Herlihy said.

Chase said it has also raised the funds availability on Chase checks deposited at its ATMs to $1,500.

———

©2016 Chicago Tribune

Visit the Chicago Tribune at www.chicagotribune.com

Distributed by Tribune Content Agency, LLC.

Print Friendly, PDF & Email

Leave a Comment

If you want a picture to show with your comment, go get a gravatar.




No announcement available or all announcement expired.
The official student newspaper of Northeast Community College.
Chase to offer ATM withdrawal by smartphone