Bank of America and Wells Fargo exploring Apple Pay ATMs

If Apple Pay could be used to grab $40 from an ATM even if I don’t have my card available, it suddenly wouldn’t matter how long it takes for small businesses or my local transit authority to finally support NFC and Apple Pay. Or customers can request an access code through the Chase mobile app, enter it at the ATM, then enter their PIN for the transactions.

If you don’t have your debit card and you’re a JP Morgan Chase & Co. banking customer, you can still make a withdrawal – using a smartphone. The cell phone technology will just be an option. While ATMs require a PIN, the fingerprint scanner on an iPhone is harder to crack, and Apple Pay uses one-time-use tokens instead of passing along your actual account details.

Riding the Wave: Samsung to Expand Mobile Pay Service in U.S.

“The changes come as Chase’s monthly ATM transactions outpace the number of teller transactions in its branches, and as JPMorgan has been cutting costs, including staff, to boost profits”, USA Today reports.

JPMorgan Chase will implement cardless ATM access across its entire fleet this year, according to the New York Post, which broke the story.

The bank is rolling out new “cardless” ATMs.

Since November 2014, savings bank account holders were restricted to three free transactions a month at ATMs belonging to other lenders in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad.

The first generation of these new machines will likely enable customers to withdraw cash using the mobile Chase app. In further upgrades, the ATMs will be able to get connected with customers’ smartphones through near-field wireless communication. Chase is also moving tellers from behind the counter to the branch floor to help customers navigate the new machines. Those particular features will arrive over the next few years.