They’ve been testing it out in select locations for months but America’s third-largest bank, Wells Fargo, has officially announced that all of its cash machines around the country are now ready to accept cardless ATM transactions. Customers will now just need their smartphones, the mobile banking app on their device, a unique 8 digit code, and their personal identification code to retrieve cash at any of the bank’s 13,000 cash machines in the US. They’re the first US bank to have this kind of cardless transaction and to launch it nationwide.

This is part of the company’s digitalizing of their services to attract more customers that are looking for more convenient and at the same time, more secure ways of banking without actually having to go to the bank. And now that you don’t need to have your ATM card with you at all times, customers have those two aspects at their fingertips. The two-step identification process that several apps and services have been using is also applied to the cardless transaction process that the bank is introducing.

When you go to any of the Wells Fargo ATMs now, you will request an 8 digit identification code from the mobile banking app on your smartphone. You will enter this code on the machine, as well as enter your PIN code, then withdraw your cash from the bank. This kind of transaction also lessens the possibility of your card being “skimmed” which is how criminals sometimes gain access to your account.

This is a good move for Wells Fargo as they continue to repair their reputation after last year’s sales scandal where as many as 2.1 million accounts were created in customers’ names without their permission.

VIA: Reuters