Wells Fargo plans to upgrade all 13,000 of its ATMs next week to allow customers to access their funds using their cellphones instead of traditional bank cards, the AP reports. The announcement was made by Wells Fargo CEO Tim Sloan on Tuesday at an employee town hall in Orlando. While banks like JPMorgan Chase and Bank of America have announced similar upgrades to their ATMs, those are still only in certain markets like San Francisco, Miami, and New York. Wells would be the first to upgrade all of its ATMs with the feature across the United States.
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. (Read more Wells Fargo stories.)