No need of cards to get cash from Chase ATMsJPMorgan
JPMorgans Chase has allowed card-less transactions in all of its 16,000 ATMs.
One of the largest banks in United States has been investing millions
implementing new advancements to its thousands of ATMs as its digital and
mobile customer bases ballon.
According to the reports, Chase announced that it had completely rolled out
card-less transactions from its ATM network i.e. customers doesn't have to use
physical debit card. Instead they will be using mobile wallet applications like
Apple pay, Google Pay, or Samsung Pay on their respective smartphones.
Meanwhile, the withdrawal limits are same as earlier.
Several reports suggested that Chase is utilizing 'near-field communication'
technology which enables mobile wallets transactions from 2016, while other
banks like Bank of America and Wells Fargo have implemented same
technology for their card-less methods. Besides, US-based banking system
Chase holds about 30 million active mobile users, so the cardless feature will
act as a booster in savings of the bank. Around USD 0.20 is spent by big banks
in order to replace a lost, stolen, or otherwise corrupted card. As per
consulting firm A. T. Kearney, the sum of cost could be added up when tens of
millions of customers are at stake.
Customers now can rely on their smartphones, instead of relying on debit
cards which may get more easily lost and compromised. The ATM will be
consisting of a Wifi resembling symbol which will let an individual know that it
can carry out cardless transactions.
JP Morgan's Chase has explained the user guide to the customers in steps for
cardless ATM transactions.
Step 1: Access your mobile wallet from your smartphone and select your
virtual chase debit card.
Step 2: Look for the cardless symbol on ATM, and tap it with your phone.
Step 3: Enter your pin as usual.
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