What is a Cardless ATM? A cardless ATM is your new best friend! These ATMs allow you to access your bank account and withdraw money without a physical card.
How do they work?
Traditional ATMs rely on your plastic debit card for identification. Cardless ATMs, on the other hand, use your smartphone to verify your identity. There are a few ways this can happen:
- Mobile App: Many banks offer cardless ATM functionality through their mobile apps. You’ll initiate the withdrawal process on your phone, which generates a secure code or uses near-field communication (NFC) to communicate with the ATM.
- QR Codes: Some cardless ATMs use QR codes. You’ll use your banking app to generate a unique QR code, scan it at the ATM, and then verify the transaction on your phone.
Benefits of Cardless ATMs
- Convenience: No more scrambling to find your debit card!
- Security: Cardless ATMs often use two-factor authentication, making them potentially more secure than traditional ATMs.
- Reduced Risk: If you lose your debit card, you can still access your cash with your phone.
Things to Consider
- Availability: Not all banks offer cardless ATMs, and those that do may only have them at certain locations.
- App Requirements: You’ll likely need your bank’s mobile app to use a cardless ATM.
- Data Charges: Using your phone’s data to access a cardless ATM may incur data charges, depending on your plan.
Overall, cardless ATMs are a handy innovation that can help you access your cash even if you don’t have your debit card. Be sure to check with your bank to see if they offer cardless ATMs and how to use them.