Getting cash and access to Wells Fargo ATMs just got a whole lot easier. Back in March, Wells Fargo enabled smartphone-only ATM withdrawals, but needed both app-specific code and your pin, which defeated the purpose of convenience.
Wells Fargo has now enabled NFC access at more than 5,000 of its ATMs across the country. If you take a look at Chase for example, you have to tap your phone (with Apple Pay, Android Pay or Samsung Pay) and enter a PIN code to start a transaction at a supporting machine. Wells Fargo's new introduction of this feature now makes cash withdrawals that much easier.
So, what's the catch? Well, simply put, it's availability and convenience. Wells Fargo touts NFC support at over 40 percent of its ATMs, but also leaves most of its machines working the old ways. We can expect to see tap-based ATM access to come by 2019. This is a big step forward for the banking industry.