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Understanding Cardless ATMs

How Do Cardless ATMs Work?

Cardless ATMs, also known as contactless ATMs, function similarly to contactless payment terminals found in stores. To perform a transaction, you simply hold your digital wallet, mobile banking app, or contactless-enabled card up to the ATM’s payment terminal and authorize the transaction.

Many major banks offer cardless ATMs, making them widely accessible. Here’s what you need to know about their capabilities and security measures.

How to Use a Cardless ATM

Use Your Mobile Banking App

First, log in to your mobile bank account and request a withdrawal or ATM access. Then, scan the QR code displayed on the ATM or enter the one-time access code from your phone. You may need to enter your PIN as well. Authorize the withdrawal with your phone, and collect your cash from the ATM.

Scan the Debit Card Saved to Your Digital Wallet

Add your debit card to your phone or wearable device’s digital wallet, such as Apple Pay or Google Pay. Open your digital wallet, select your debit card, and hold your phone up to the cardless icon on the ATM. Use the ATM as you normally would and authorize the transaction by entering your PIN.

Tap Your Debit Card

This method isn’t entirely cardless, but it allows you to tap your contactless-enabled debit card near the ATM’s contactless symbol and enter your PIN to make a transaction.

Are Cardless ATMs Safe?

Cardless ATM transactions are as safe as traditional ones, and potentially safer since you use your physical debit card less frequently. This reduces the chances of it being lost or stolen. Contactless ATMs are also less prone to card skimming or shimming, where a device steals data from your card’s magnetic stripe or EMV chip.

Using a digital wallet adds another layer of security, as your card information isn’t stored directly on your phone, and encryption technology makes it harder for fraudsters to access your data. However, it’s crucial to strengthen your passwords for mobile banking apps, digital wallets, and your phone to protect your information.

Pros and Cons of Cardless ATMs

Pros

• Quick transactions
• No need to carry your physical debit card
• Less risk of skimming or shimming scams

Cons

• More reliance on your smartphone or wearable device
• Increased need for mobile security
• May require installing specific apps

Can I Use Cardless Cash at Any ATM?

Not all ATMs are cardless. Look for the contactless symbol on the ATM to see if it offers cardless withdrawals. Many large banks and credit unions, including Bank of America, Capital One, Wells Fargo, and Chase, offer cardless ATMs. Ensure your debit card is contactless-enabled before using it at the ATM or adding it to your digital wallet.

The Bottom Line

Cardless ATMs offer quicker and easier transactions, reducing the need to carry your debit card and potentially preventing it from being lost or stolen. While using a digital wallet or banking app can be safer, always protect your bank account from fraud by using unique passwords and securing your phone or wearable device with a passcode.

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