CommBank announces cardless ATM withdrawals
Commonwealth Bank customers will be able to withdraw cash from an ATM using the CommBank app on their smart phone rather than a transaction card.
The new service, which will be available in May 2014, will also allow a customer to select a third party to pick up the cash. Use of Cardless Cash is limited to one transaction per day, worth up to A$200.
When customers want to make a cardless withdrawal they enter the transaction details in their smart phone and then two unique numbers are generated: an eight-digit cash code that appears on the customer's screen; and a four-digit cash PIN that is sent via SMS from the bank.
Commonwealth Bank ATMs will have a Cardless Cash withdrawal option. Customers must enter the cash code and the cash PIN to complete the withdrawal.
If someone else is collecting the cash, the customer must enter their name and mobile phone number. The customer must send the cash code and the bank will send the cash PIN to the nominated recipient.
Source: Banking Day