When was the last time you walked into a bank? With on line banking, you almost have very little reason to actually walk into a financial institution.

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I had to physically visit my bank today, which is Wells Fargo. Not only to unlock the lock that had been placed on my credit card, I wanted to ask them about their new cardless ATM.

According to Bankrate.com, Wells Fargo is going to a cardless ATM machine. This will allow Wells Fargo customers to use the 13,000 ATM's without their card, but you will need a smartphone. The process will be, you'll need to download the WF phone app, and when you'll want to withdraw money from your account, WF will issue you an eight digit code to use, instead of your bank card.

This code will be valid for only 30 minutes before the code expires, in that time, you can go to an ATM and withdraw money. You'll have to get a new code for every visit to the ATM when you want to withdraw money.

You can however use the soon to be 'old fashion way' of getting money from your ATM, with your banking card.

Wells Fargo is the first major bank to resort to this new system.

My personal banker in Mandan knew nothing about this new procedure, but did say they have a major meeting this week, and suspects it to announce this new cardless system.

(source)