Wells Fargo to open up iPhone-based ATM withdrawals next week, no Apple Pay yet

Posted:
in iPhone
Following the end of a successful pilot project, Wells Fargo will be opening up smartphone-based withdrawals at all 13,000 of its U.S. ATMs on Monday, March 27 -- though support for Apple Pay isn't yet on the horizon.




Instead people will have to use the Wells Fargo app to request a one-time, eight-digit code, which must be combined with a PIN, Reuters said. While not necessarily more efficient, the method will mean being able to withdraw cash without a debit card.

In theory it may also improve security, since customers won't risk encountering a card skimmer. State-of-the-art skimmers are difficult to spot and can steal data from a number of cards before banks and customers catch on.

CBS noted that phone-based withdrawals should become simpler later in 2017, when an update will eliminate the need for a code and only ask that people hold their phone up to a reader.

It's likely that Wells Fargo will eventually add ATM support for Apple Pay, given that it already supports the platform for payments and one of its main rivals -- Bank of America -- has been offering Apple Pay withdrawals since June 2016.

To date Bank of America's compatibility is still limited to "select" locations, which could give Wells Fargo a chance to catch up.

Comments

  • Reply 1 of 20
    avon b7avon b7 Posts: 7,838member
    I've had this service for years with my bank. It's handy for when you realise you've left your card at home and you're at the checkout (happened once to me) or if family or friends need cash and you are not on hand to take it out of the machine.
  • Reply 2 of 20
    SpamSandwichSpamSandwich Posts: 33,407member
    ApplePay at ATMs would be a no-brainer for more secure withdrawals. Even better would be a debit card containing the funds securely locked away in the Wallet app, like a Bitcoin wallet.
    jbishop1039
  • Reply 3 of 20
    avon b7 said:
    I've had this service for years with my bank. It's handy for when you realise you've left your card at home and you're at the checkout (happened once to me) or if family or friends need cash and you are not on hand to take it out of the machine.

    Last year I drove to Home Depot during a blizzard to get some critical supplies and found that when I went to check-out that I had forgotten my wallet.  At least at the time, they didn't take Apple Pay.  After a round trip back to Home Depot in white out conditions, I noticed that they accept Pay Pal.  So I could have checked out via my phone after all.  Too bad the cashier couldn't have suggested that!  So, I agree with you 100%.  The day I can leave my wallet at home without any inconvenience will be a great day.  I suppose we'll need a virtual driver's license app first.  I'm not holding my breath.
  • Reply 4 of 20
    so it's not "iphone based" at all, it's code/pin based and could theoretically be used on android/windows phone too if they have apps for this bank. several other banks already have this but you get the code over the phone or by text. write an article about it when they are NFC / apple-pay compatible, thats news.  ;)
  • Reply 5 of 20
    payecopayeco Posts: 581member
    Anyone know if you can make deposits with this method as well or if it's withdraws only?
  • Reply 6 of 20
    mike1mike1 Posts: 3,316member
    avon b7 said:
    I've had this service for years with my bank. It's handy for when you realise you've left your card at home and you're at the checkout (happened once to me) or if family or friends need cash and you are not on hand to take it out of the machine.

    Last year I drove to Home Depot during a blizzard to get some critical supplies and found that when I went to check-out that I had forgotten my wallet.  At least at the time, they didn't take Apple Pay.  After a round trip back to Home Depot in white out conditions, I noticed that they accept Pay Pal.  So I could have checked out via my phone after all.  Too bad the cashier couldn't have suggested that!  So, I agree with you 100%.  The day I can leave my wallet at home without any inconvenience will be a great day.  I suppose we'll need a virtual driver's license app first.  I'm not holding my breath.
    Except would you want to hand over your unlocked phone during a traffic stop? There would need to be universally (50+ motor vehicle jurisdictions) scanable codes on the license and registration that the officer would scan and then take back to the car with him. Not holding my breath.
  • Reply 7 of 20
    avon b7avon b7 Posts: 7,838member
    payeco said:
    Anyone know if you can make deposits with this method as well or if it's withdraws only?
    Not sure I follow you. For deposits I just transfer the money from account to account using the phone or the web. In my case its all commission free. I just select the account to take funds from, the IBAN to send the funds to and the amount. After that I put in my authorisation code and it's done.
    airmanchairman
  • Reply 8 of 20
    crowleycrowley Posts: 10,453member
    Seems convoluted when compared with Pay
    StrangeDaysairmanchairman
  • Reply 9 of 20
    avon b7avon b7 Posts: 7,838member
    adm1 said:
    so it's not "iphone based" at all, it's code/pin based and could theoretically be used on android/windows phone too if they have apps for this bank. several other banks already have this but you get the code over the phone or by text. write an article about it when they are NFC / apple-pay compatible, thats news.  ;)
    At least at my bank, that's how it works. I just need the phone number of the other person and the amount to be sent. Of course, I can use the service to take out cash without a card for myself.
    airmanchairman
  • Reply 10 of 20
    wood1208wood1208 Posts: 2,920member
    Isn't bunch of banks like BofA have ApplePay ATM withdrawals ? What taking long for other to implement since it is more secured than credit/debit cards.
    edited March 2017
  • Reply 11 of 20
    zoetmbzoetmb Posts: 2,655member
    mike1 said:
    avon b7 said:
    I've had this service for years with my bank. It's handy for when you realise you've left your card at home and you're at the checkout (happened once to me) or if family or friends need cash and you are not on hand to take it out of the machine.

    Last year I drove to Home Depot during a blizzard to get some critical supplies and found that when I went to check-out that I had forgotten my wallet.  At least at the time, they didn't take Apple Pay.  After a round trip back to Home Depot in white out conditions, I noticed that they accept Pay Pal.  So I could have checked out via my phone after all.  Too bad the cashier couldn't have suggested that!  So, I agree with you 100%.  The day I can leave my wallet at home without any inconvenience will be a great day.  I suppose we'll need a virtual driver's license app first.  I'm not holding my breath.
    Except would you want to hand over your unlocked phone during a traffic stop? There would need to be universally (50+ motor vehicle jurisdictions) scanable codes on the license and registration that the officer would scan and then take back to the car with him. Not holding my breath.
    In New York State, it's now permissible to carry only an electronic version of your Insurance ID although I bet many officers don't know that and it's no big deal to keep a copy in the car anyway.   But I agree with you - I wouldn't want to hand over my unlocked phone to a police officer and by the time s/he walked back to their car, the phone would probably be locked again.  That would just get him/her pissed off.    

    Until Apple Pay is ubiquitous at ATMs, it's still necessary to carry a wallet all the time, IMO, and even when they are everywhere, most people will still need to carry their license and registration all the time, unless they live in a walking city and don't drive.    At the retailers where I use Apple Pay, since I still have to sign the terminal and if I use a debit card, I still have to enter a PIN (and in some cases, also answer if I want cash and if the amount is correct), using Apple Pay is no faster and frequently slower than swiping a card.    I was in a Bed, Bath & Beyond yesterday and asked the cashier (who seemed to know what she was doing) if they took Apple Pay.  She didn't know - she said, "try it".  It didn't work.   This still has a long way to go.    At best, I'm able to carry a thinner wallet than I used to.  I've photographed all my membership cards and have them on my iPhone.  I do wish there was a way to get them out of the photo library and into the wallet app.


  • Reply 12 of 20
    JinTechJinTech Posts: 1,039member
    avon b7 said:
    payeco said:
    Anyone know if you can make deposits with this method as well or if it's withdraws only?
    Not sure I follow you. For deposits I just transfer the money from account to account using the phone or the web. In my case its all commission free. I just select the account to take funds from, the IBAN to send the funds to and the amount. After that I put in my authorisation code and it's done.
    Except for some people still have to deposit cash.
  • Reply 13 of 20
    It's sort of incorrect to describe card-less withdrawals as "supporting Apple Pay." Apple Pay is a payments system. ATM's where you can access your account without a card should be said to support NFC-connected mobile wallets. The Apple Pay summary sheet doesn't appear when you tap on an ATM; doing so opens the Wallet app. So far my experience with card-less ATM's is that you can only withdraw money, check balances, or transfer funds between accounts. You can't (yet) make deposits this way. Also, just to be complete, if the ATM you want to use is in a secure vestibule, you *still need a card* to unlock the door!
  • Reply 14 of 20
    avon b7avon b7 Posts: 7,838member
    JinTech said:
    avon b7 said:
    payeco said:
    Anyone know if you can make deposits with this method as well or if it's withdraws only?
    Not sure I follow you. For deposits I just transfer the money from account to account using the phone or the web. In my case its all commission free. I just select the account to take funds from, the IBAN to send the funds to and the amount. After that I put in my authorisation code and it's done.
    Except for some people still have to deposit cash.
    I see. For my bank there is an option on the ATM to operate without a card. I thought all ATMs had this option. You choose that option, punch in the details and amount to pay in, the put the money into the machine and wait for the transaction slip. I've never had to use it personally though.

    Here's a demo (visual but in Spanish):



    If you want to pay in 110€ but only have three 50€ notes, the ATM will even return the 40€.
    edited March 2017
  • Reply 15 of 20
    anomeanome Posts: 1,533member

    My bank does this with their iOS app, except it's only a 6 digit code. And still they're bitching over Apple Pay.

    It's also handy if you're worried about people inserting skimmers in ATMs, since there's nothing to skim, just a one-time code, which is only useful to withdraw the exact amount chosen.

  • Reply 16 of 20
    ksecksec Posts: 1,569member
    The less card in my wallet the better. I now have 10 cards in total in my waller. I wish the next step is to get rid of insurance card.
  • Reply 17 of 20
    rob53rob53 Posts: 3,263member
    Wells Fargo is trying to implement their own version of a two-factor authentication system. The problem is, they are generating the 8-digit code, sending it to you, then you add your user-generated PIN. The WF app acts like the typical SecurID dongle but when you compbine the second statement, "CBS noted that phone-based withdrawals should become simpler later in 2017, when an update will eliminate the need for a code and only ask that people hold their phone up to a reader." it no longer becomes two-factor and actually is a liability because once the user has their phone approved, it appears anyone gaining access to the phone will be able to automatically access the account.

    As others have mentioned, ApplePay has nothing to do with this but TouchID has everything to do with a much improved version. TouchID is already allowed within third-party apps, including ApplePay's use of the WF credit card, so why can't WF simply extend their TouchID-based iOS app to include ATM withdrawals. The current WF app has to have some way of communicating with WF's security infrastructure at a WF ATM (doubt this would work on other ATMs), simply using the existing WF add with TouchID and a simple ATM withdrawal menu, would make it very secure. Of course this won't work with non-iPhones but I really don't care about the others.
  • Reply 18 of 20
    macguimacgui Posts: 2,384member
    I think an image of your insurance card on your phone is also legal in CA. I'd like to do the same with my CDL and reg.

    Somehow, I stumbled on an app in the App Store that a) allowed you to securely place documents and images in a 'folder' and b) once in the folder, prohibited leaving that folder without a code.

    The idea was to allow you hand your phone over to grandma, wife, girlfriend, priest, etc., so they could see pics you wanted to show, without them rummaging through your albums. By extension you could hand over your DL, insurance card, and reg without worrying about someone swiping through your other data. It reminded me of a display or kiosk mode.

    I don't know if it would have worked against the reported data suckers that some police allegedly used on phone with and without pc.

    Anyway, once I realized the app would work for that info, I went looking for it and no joy. Couldn't remember the name or find anything that fit my description.


  • Reply 19 of 20
    bwikbwik Posts: 565member
    rob53 said:
    Wells Fargo is trying to implement their own version of a two-factor authentication system. The problem is, they are generating the 8-digit code, sending it to you, then you add your user-generated PIN. The WF app acts like the typical SecurID dongle but when you compbine the second statement, "CBS noted that phone-based withdrawals should become simpler later in 2017, when an update will eliminate the need for a code and only ask that people hold their phone up to a reader." it no longer becomes two-factor and actually is a liability because once the user has their phone approved, it appears anyone gaining access to the phone will be able to automatically access the account.

    As others have mentioned, ApplePay has nothing to do with this but TouchID has everything to do with a much improved version. TouchID is already allowed within third-party apps, including ApplePay's use of the WF credit card, so why can't WF simply extend their TouchID-based iOS app to include ATM withdrawals. The current WF app has to have some way of communicating with WF's security infrastructure at a WF ATM (doubt this would work on other ATMs), simply using the existing WF add with TouchID and a simple ATM withdrawal menu, would make it very secure. Of course this won't work with non-iPhones but I really don't care about the others.

    Well I don't think it's true that "anyone gaining access to the phone" will be able to get cash, unless they enter the account password, or perhaps a successful TouchID swipe within the bank's app.  This is no worse than banking apps already are - you can wire money out of an account today.
  • Reply 20 of 20
    MacProMacPro Posts: 19,778member
    payeco said:
    Anyone know if you can make deposits with this method as well or if it's withdraws only?
    WF app lets you photograph a check and deposit it from your iPhone.  Cash might be an issue though ;)
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