Left your wallet at home? You may still be able to grab some cash. Starting on Monday, Wells Fargo will be the first major U.S. bank to offer a card-free option at all of its ATMs. The bank’s customers will be able to use their smartphones to access any of the bank’s 13,000 ATMs. Other major U.S. banks have rolled out card-free ATMs in limited
locations. Here’s how it works: Customers must download and log into the Wells Fargo app on their smartphones and request an eight-digit code, which they can type into an ATM instead of inserting a debit card. Next, they enter their PIN, just as they would if they were using their cards. Wells Fargo is offering the cardless option at a time when consumers are increasingly comfortable with using their phones to check their balances, deposit checks and transfer cash, says Jonathan
Velline, head of branch and ATM banking for Wells Fargo. Using the phone to tap into an ATM is a logical next step, he says. The card-free option can be more secure than using a debit card, Velline says, because it reduces the chance that fraudsters can steal and copy the numbers on your debit card. The smartphone app generates a unique
code that expires within 30 minutes. Plus, consumers using the app have to prove their identity on their smartphones — either by providing their thumb print or by typing in their online banking password — in addition to entering their PIN numbers. (With your physical debit card, you only need to provide the PIN code.) Consumers can expect to see more cardless ATMs over the next couple of years. JPMorgan Chase is testing the technology at some locations, while Bank of America has introduced a card-free option at about half of its ATMs. For Bank of America, some machines currently accept mobile wallet programs, such as Apple Pay and Android Pay. Consumers need to only tap
their smartphones on or near the ATM, provide their passcode or thumbprint on the phone, and then enter their PINs into the ATM. Wells Fargo says it is upgrading its ATMs to incorporate the digital phone readers and hopes to make the mobile wallet technology more widely available throughout this year and next year. Banks are also working on programs that can help people cue up transactions even before
they reach the ATM. For example, Bank of America said it is rolling out a service this summer that lets customers use their smartphone apps to say how much money they want to withdraw and what kinds of bills they need. Then they show up at an ATM, sign in and collect the cash. (Requests expire within 24 hours.)
Use of the card-free options is still in the early stages, says Sarah Grotta, who heads the debit card research for Mercator Advisory Group, a payments research firm. Consumers have been slow to use mobile wallet options such as Apple Pay, so it may be awhile before most people leave their debit cards at home, she says.
Still, she expects the technology will catch on.
“People are interested in doing more with their phones,” Grotta says. “So eventually we will get there.”
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Good afternoon everyone, I hope you had a great weekend. A few months ago, I wrote Wells Fargo Discontinues Instant Issue Debit Cards Effective November 30. In that post, I said:
After November 30, if you need a replacement debit card (if your current debit card was lost or stolen), you can no longer get a temporary debit card at a Wells Fargo branch – you will need to use the Wells Fargo app or call Wells Fargo (1-800-869-3557) to request a replacement debit card. Once your request is submitted, your replacement debit card will arrive via mail in 5-7 days.
November 30 came and went and there weren’t any more updates, until my recent Wells Fargo checking account statement closed a few days ago. I will go into my details below, but long story short, Wells Fargo will no longer issue temporary debit cards and is discontinuing the ATM Access Code feature, both changes are effective on April 1, 2021. Read on to learn more.
Here are the new changes, effective April 1, 2021, that appeared on my February 19 checking account statement. There are 2 different changes, so let’s talk about the first change first.
November 30, 2020 change:
Effective on or after November 30, 2020, (1) Wells Fargo branches will no longer be able to issue Wells Fargo Instant Issue Debit Cards and/or Business Instant Issue Debit Cards in certain circumstances, and (2) Wells Fargo branches in the states of South Carolina and Washington will no longer be able to issue Wells Fargo Instant Issue Debit Cards, Wells Fargo Business Instant Issue Debit Cards, and/or EasyPay Instant Cards.
If you need a replacement card, you may request one by signing on to Wells Fargo Online® or calling the number on your statement. Once requested, replacement cards typically arrive in 5 to 7 calendar days.
April 1, 2021 change:
Effective on or after April 1, 2021, Wells Fargo will no longer issue temporary debit cards, including Wells Fargo Instant Issue Debit Cards, Wells Fargo Business Instant Issue Debit Cards, and EasyPay Instant Cards.
If you need a replacement card, you may request one by signing on to Wells Fargo Online® or calling the number on your statement. Once requested, replacement cards arrive by mail in 5 to 7 calendar days.
Before November 30, 2020, you used to be able to get instant issue debit cards at Wells Fargo branches. That ended on November 30, 2020. After April 1, 2021, Wells Fargo will no longer issue temporary debit cards of any kind, you will need to wait for a replacement debit card to arrive via mail.
The second announcement is in regards to the ATM Access Code feature. According to Wells Fargo, to use this feature, “Open the Wells Fargo Mobile® app, tap Menu in the bottom bar and select Cards, ATM Access Code, and then the Get Code button. You will receive a code that you can use at any Wells Fargo ATM.” This is helpful if you need to access your Wells Fargo accounts, but you do not have your Wells Fargo debit card with you. Well, that feature is going away on April 1, 2021.
The easiest workaround is to add your Wells Fargo debit card to your mobile wallet (ApplePay, Google Pay, etc.) and then tap your phone on the Wells Fargo ATM to sign into your account.
That will work great… most of the time, unless the Wells Fargo location you want to access requires a physical card for entry (usually after business hours).
These changes are not good, but should not cause too much trouble until you lose your debit card and do not have a smart phone with a mobile wallet. If you have any questions about either change, please leave a comment below. Have a great day everyone!