More banks embracing cardless ATMs

More banks embracing cardless ATM's

BIRMINGHAM, Ala. (WBRC) - New technology makes it easier to get your money. Banks across the country are embracing cardless ATMs. We’re looking into this growing trend and why thieves are catching onto it too.

Cardless banking - it’s all about convenience and security.

Wells Fargo debuted app-based authentication at all its 13,000 ATMs in 2017. This year Bank of America is wrapping up a major overhaul of each of its 16,000 ATMs. Bank of America says you pull up your e-wallet on your phone and the machine scans your phone.

“It eliminates couple steps and you can get to your money pretty quickly or if you don't want to carry our wallet around and you always have your phone with right?” Victor Branch with Bank of America said.

Branch says you’ll still need your PIN and you will also need to think about basic security for your smartphone. Make sure it can lock so no one else can access your digital wallet.

Thieves are also catching on to this new trend. According to the New York Times, a crook got a hold of a Chase customer’s online banking login then downloaded the bank’s mobile app on their own phone. They then used a cardless ATM and swiped almost $3,000 from the customer.

According to website LifeHacker, phishing scams are popping up at cardless ATM’s. Scammers are texting bank customers saying their account is locked. Once they click on the link and enter their information, scammers get your information.

From time to time, banks will send you alerts, but you’ll never receive ones that ask for your account or social security numbers to verify your identity. If you haven’t signed up for bank alerts now is a good time to do it to keep your accounts safe.

You can find more information about cardless banking from LifeHacker here:

Copyright 2019 WBRC. All rights reserved.