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- Cardless ATMs let you use an ATM without inserting a debit card.
- You may use your bank's mobile app or a contactless card at a cardless ATM.
- Cardless ATMs are safe to use and involve verification processes to access your bank account.
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Did you forget your debit card at home and still need to visit an ATM to withdraw money? Cardless ATMs allow you to make transactions without a debit card.
Here's everything you need to know about cardless ATMs, from how they work, and which financial institutions currently offer them.
How cardless ATMs work
At a cardless ATM, you may be able to use a contactless card or mobile banking app instead of inserting a regular debit card to access your account.
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"The ATMs itself is the same ATM, so you could turn around the next time and put your card if you wanted to. The only difference is how you start your transaction," says Ken Justice, senior vice president and ATM executive at PNC Bank.
Cardless ATMs still involve a verification process and are safe to use. You'll either use your PIN, a code, or a combination of both.
"It's a convenience feature that we think is actually safer from the standpoint that you avoid any opportunity of card skimming," adds Justice.
Just be sure to watch out for card skimming, which can occur at an ATM or a point-of-sale transaction. Card skimming is when someone tries to steal your personal information when you swipe or insert your card into a machine.
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When you make a cardless transaction, you may avoid card skimming because you're using your bank's mobile app or a contactless card.
Some banks, like PNC Bank, will also send an email every time a one-time password is issued. That way, you can quickly contact a financial institution if it wasn't you making the transaction.
Which financial institutions have cardless ATMs?
Kathy Snider, senior vice president, Engage Business Line, for Co-op Solutions, points out that financial institutions have different ATM manufacturers, so some banks have cardless ATMs while others are still working on supporting these types of transactions.
"Typically, what we see is that really big banks that have rolled this out have custom software that's running on that ATM that enables that for their members," explains Snider.
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The following big banks now have cardless ATMs in their network:
- Bank of America
- Chase
- Fifth Third Bank
- PNC
- Wells Fargo
Financial institutions that are part of the Co-op ATM Network or allow fee-free withdrawals from Mastercard ATMs also may have access to cardless ATMs.
To figure out if an ATM permits cardless transactions, you can look for a contactless tap symbol on the ATM.
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How to use a cardless ATM
You may use a contactless card, your bank's mobile app, or a regular debit card at a cardless ATM.
Here's what you'll need to do at an ATM, depending on which form of access you utilize.
Use a debit card in your mobile wallet
At some big banks like Chase and Wells Fargo, you may open your contactless card on your phone's mobile walletand tap your phone against the contactless symbol on the ATM.
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Then, you'll insert your PIN to verify your identity. After your PIN is approved you can use an ATM.
Use a banking mobile app
Some cardless ATMs, like Mastercard, let you use a mobile banking app. You'll log in to your mobile banking app and find the tab that lets you make ATM transactions.
On the ATM screen, you'll select the cardless ATM option. Depending on where you bank, you'll either have to scan a QR code that will appear on the ATM, or you'll need to use a temporary one-time code that you'll receive through your mobile app.
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Once your code is approved, and you've verified your identity, you can make your ATM transaction.
Use a debit card
You can also use your regular debit card or contactless debit card. For regular debit cards, you'll insert the card. With a contactless debit card, you'll tap it against the bank's contactless symbol. You'll insert your PIN and start utilizing the ATM.
Banking Reporter
Sophia Acevedo is a banking reporter at Business Insider. Sophia joined Insider in July 2021. She writes bank reviews, banking guides, and banking and savings articles for Personal Finance Insider. She is also a Certified Educator in Personal Finance (CEPF).Sophia is an alumna of California State University Fullerton where she studied journalism and minored in political science. She is based in Southern California.You can reach out to her on Twitter at @sophieacvdo or email sacevedo@insider.com.Read more about how Personal Finance Insider chooses, rates, and covers financial products and services >>Below are links to some of her most popular stories:
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I'm an enthusiast with a comprehensive understanding of financial technology, particularly in the realm of banking and transactional processes. My expertise extends to emerging trends and innovations within the banking sector, such as the implementation of cardless ATMs. I've closely followed the advancements made by various financial institutions and have a profound knowledge of the operational dynamics of these innovative banking solutions.
Cardless ATMs represent a paradigm shift in traditional banking practices, allowing users to conduct transactions without the need for a physical debit card. The key components of this transformative technology include the utilization of a contactless card or a mobile banking app to initiate transactions. This approach not only enhances convenience but also introduces additional layers of security through verification processes involving PINs, codes, or a combination of both.
One notable feature of cardless ATMs, as highlighted by Ken Justice, Senior Vice President and ATM Executive at PNC Bank, is the improved safety they offer by minimizing the risk of card skimming. By leveraging a bank's mobile app or a contactless card, users can circumvent the vulnerabilities associated with traditional card-based transactions, where personal information can be compromised during swiping or insertion.
The article mentions several prominent financial institutions that have embraced cardless ATM technology. Notably, Bank of America, Chase, Fifth Third Bank, PNC, and Wells Fargo are listed as major banks with cardless ATMs in their networks. The implementation of cardless ATMs varies across institutions, with some relying on custom software to enable this functionality for their members.
To identify whether an ATM supports cardless transactions, users are advised to look for a contactless tap symbol on the machine. This symbol signifies compatibility with contactless cards or mobile banking apps, signaling the availability of cardless transactions.
The article further elaborates on the diverse methods users can employ to access cardless ATMs, including using a contactless card in a mobile wallet, utilizing a banking mobile app, or resorting to a regular debit card. Specific steps are outlined for each method, offering users flexibility in choosing the most convenient approach based on their preferences and the capabilities of their banking institution.
In conclusion, the evolution of cardless ATMs represents a pivotal advancement in the banking industry, combining convenience and security to redefine how individuals access and manage their finances. As demonstrated by the comprehensive information provided, cardless ATMs have become a notable feature in the offerings of major financial institutions, reflecting the ongoing transformation of traditional banking practices.
