Jan. 27--Chase, the Chicago area's biggest bank by deposits, will introduce ATMs by the end of the year where customers can withdraw cash using their smartphones as well as debit cards.
In the Chicago area, other banks already offering cardless ATMs include BMO Harris Bank and Wintrust.
For Chase's cardless ATMs, customers will tap their smartphone onto the ATM, use a fingerprint, and type a PIN onto the ATM pad, according to a Chase video. Or customers can request an access code through the Chase mobile app, enter it at the ATM, then enter their PIN for the transactions.
"We're doing this because the way our customers bank is changing -- using their phones, online and ATMs more than going to tellers for routine transactions," Chase said in a statement. It says ATM transactions now exceed teller transactions. Chase said its ATMs, including the new ones, can perform about 60 percent of the transactions that customers can handle at the teller window.
Most Chase ATMs will get the new software enabling the cardless transactions, spokeswoman Christine Holevas said.
BMO Harris Bank, which in March 2015 announced cardless technology would be installed at 750 ATMs, including 400 in the Chicago area, has said the transaction takes about 15 seconds, compared with about 45 seconds for a traditional ATM withdrawal.
"It's going well, customers really like it, it's very convenient, it's secure, and it speeds up time spent at the ATM," BMO Harris spokesman Patrick O'Herlihy said Tuesday.
The number of BMO Harris ATMs with what the bank calls "mobile cash" capability has risen to 900. "Usage is increasing significantly month over month," O'Herlihy said.
Chase said it has also raised the funds availability on Chase checks deposited at its ATMs to $1,500.
byerak@tribpub.com
