Bank of America rolls out cardless ATM withdrawals

Bank of America debuts new mobile tools focused on personalization — Bank of America — “Customers can now start an ATM withdrawal directly from their mobile banking app. Customers simply log into the app and select the desired amount to withdraw. When they arrive at the ATM, they can either use their smartphone or debit card, enter their pin, and a personalized screen will display asking the customer if they are here to complete the withdrawal, which eliminates four steps at the ATM.”

  • This announcement may be a little premature. Just checked my BoA app and it does not include this capability yet.

    Actually, BoA has been rolling out cardless ATMs using NFC for months but there are a lot of them. This is the first announcement that I have seen. There are two BoA ATMs within walking distance of my residence. As of last week, one had been equipped for cardless for months while one still had not. In the last few months I have checked a number of BoA ATMs in NYC and found none yet equipped for (NFC) cardless withdrawals. For security reasons, I no longer carry bank cards so I can only use “cardless” ATMs. (Actually, BoA has recently added a security feature that makes it safe to carry and use bank cards. Using an application called CardValet, one can set a control that allows the use of the card only when it is within a few feet of one’s mobile.)

    The app strategy vs the NFC strategy offers the advantage that it is software only and not limited to those mobiles that support NFC.

  • 15 Sept 2017 Update: Just got it! “Scheduled” a withdrawal and entered the amount. The app says that I can use either my phone or my debit card for the withdrawal and that I can do it at any BoA ATM anytime within the next 24 hours. I expect to see a new software option on the ATM.