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Wells Fargo: All ATMs Will Take Phone Codes, Not Just Cards (go.com)
Given the prevalence of smartphones nowadays, Wells Fargo has announced plans to upgrade all 13,000 of its ATMs next week to allow customers to access their money using their cellphones instead of traditional bank cards. Wells Fargo would be the first to upgrade all of its ATMs with the feature across the United States. ABC News reports: To access their money, customers would get unique eight-digit codes from their Wells Fargo smartphone app, and enter the code into the ATM along with their PIN number. The machines will still accept debit cards as well. One limitation of the one-time code, though, is that it won't work on the secure doors that many branches have for non-business hours that require a customer to swipe an ATM or debit card to gain entry. Wells Fargo said those secure doors are found at a small percentage of branches, mostly in major metropolitan areas like New York City or Chicago. Wells said it plans to roll out another upgrade to its ATMs later this year, which will allow customers to access the ATMs by holding their smartphones up to a reader on the machine, instead of entering the eight-digit code. It would be similar to using Apple Pay or Samsung Pay, the bank said.
I wouldn't trust Wells Fargo any further than I could throw any of their crooked executives. Even if my credit unions offered this, I wouldn't link my cell phone to my banking info. That seems like an extremely bad idea.
I don't respond to AC's.
So if I have control over your phone, I can tell the app, without you knowing to give me a code. While standing at an atm, and withdraw your money.. HAHA have you guys seen the security on cell phones lately?