At times we sit and wonder that technology is now just, "WOW." When we see the numerous things that are being brought up day after day we are just surprised how it goes.
Technology has now been added in everything in this world, but our main focus has always been on how technology has impacted finances to ease money transactions.
Have you ever gone to the ATM for a withdrawal, and then boom!!!! you've forgotten your card home? OR have you lost your card and are in a hard situation where you need urgent cash? Well, we present to you what we call Cardless ATMs.
Yes, you heard right! Cardless ATMs, where you can withdraw money from your account at the ATM without having your card in hand.
Well, in this guide today, we will be explaining everything that you should know about Cardless ATMs, how it works, and where you can find a cardless ATM right now in the US.
What is A Cardless ATM
To define this easily, you should just seperate them and then you will understand easily. An ATM (Automatic Teller Machine), in the first place, is an automated machine that helps to withdraw money from an account usually a bank account.
And when we say cardless, it means without a card/ No card. And so, a Cardless ATM, is an automatic Teller Machine that does not need a card for withdrawals.
There are several Cardless ATMs around the globe right now and they are used mostly to withdraw cash normally with a card. But in case you have forgotten your card, then you can follow a procedure to withdraw from it without a card. Hence, the name Cardless ATM.
There are various ways that contactless ATMs work, but the following technologies are the most common.
- Verification Code: Some cardless ATMs allow you to start the withdrawal on the bank app. After that, the app creates a one-time verification code you input at the ATM.
- QR Code: Sometimes, you can use your bank app to set up the contactless withdrawal. The app will create a QR code that you scan at the ATM.
- Biometric Verification: Some banks use biometric verification like face ID to allow customers to withdraw cash at contactless ATMs.
- Near-Field Communication: This is the same technology Apple Pay and other payment methods use. To access your money, use the bank app on your smartphone.
How To Use a Cardless ATM
There several ways by which one can use a Cardless ATM. But the first thing you should put in your head is that, since there ic no card available, then you will your smartphone obligatory. If not your smartphone, then you should look for your card and continue using your card for ATM withdrawals.
Not because it is a cardless ATM that means you can't use your card there. You can still use your physical debit card at a cardless ATM. However, if you have a debit card saved in your mobile wallet, you can use a contactless ATM to tap the card and access cash.
In addition to those options, some cardless ATMs utilize mobile banking apps to withdraw cash. The details of how it works depend on your bank. It usually involves a QR code, verification process or near-field communication.
Where To Find Cardless ATMs
When looking for a Cardless ATM, there are several ways or options to consider. But the main thing is to check for the contactless tap symbol if you’re searching for a contactless ATM. The image will be on the ATM if the ATM supports contactless transactions.
But first thing where should you look for Cardless ATMs?
Google Maps: Google maps is a form of digital map that helps us to locate and get to where we want to go easily right now. And so, you can just make a quick search on Google Maps "Cardless ATMs", nd then you just go to the one that is near you from your current position.
Bank App: These ATMs are being setup by banks, and if they are setup by banks, then they will have informations on where to find their ATMs, and will also say if it also accepts contactless withdrawals.
Bank Website: Visit your bank’s official website and navigate to the ATM locator tool. Many banks provide detailed information about the services available at each ATM, including whether they support cardless transactions.
Customer Service: Why not just contact the customer service? At the customer service, you are free to ask any question concerning your bank. Just ask them if they have cardless ATMs and where to find these cardless ATMs.
The Pros And Cons on Cardless ATMs
Pros
- First thing is that it reduces the numerous things you have to carry around, helping you to remain tidy and carry very few things.
- While carrying fewer cards, it also permits to improve security. Because your card could be stolen or gets misplaced. And when you don't move with it, you won't have to bother about that part and remain secured.
- Also, Cardless ATMs help improve security against card skimmers. They know how to scan other cards and get their informations to be able to withdraw money from their account. So with cardless withdrawals, your account won't be at risk of card skimmers.
Cons
- You must always have your smartphone for cardless ATMs. Which is not really something good especially if you are going to a town or city where security is not really a powerforce.
- The number of Cardless ATMs are still very few right now. So, to exploit these options, then you should be ready to search for a good while. And you might now even see the cardless ATM is your town and might be in another.
Final Thoughts on Cardless ATMs
Despite their increasing popularity, cardless ATMs are still not as widely accessible as conventional ATMs. However, it is worthwhile to verify the locations if you bank with a provider that offers cardless ATMs.
You can leave your debit card at home and still have access to cash if there are cardless ATMs in your area. It's a good benefit that makes getting money easier when you need it.