Chase's eATM will enable cash withdrawals of up to USD 3,000, without the use of plastic cards.
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JPMorgan Chase is planning to reveal its next generation of ATMs, which will enable withdrawals through ApplePay or the bank’s smartphone app. The machines do not require customers to use plastic cards, and the apps will enable cash withdrawals of up to USD 3,000 — three times more than the current threshold.
The eATM interfaces via a large portrait touchscreen, and customers can use it like a conventional ATM and withdraw and deposit cash using their bank card. If users have ApplePay, they can launch the app, authorize via their fingerprint — just as they would with regular point-of-sale transactions — and enter their pin into the eATM. They can then withdraw as usual. Customers can also use their Chase Cardless ATM app to generate an access code, key it into the eATM, enter their pin and the amount, and withdraw their cash.
The machines have been tested in several states, in around 1,500 branches, and are set to be rolled out further in the near future. We have already seen a German bank enable cash withdrawals via an app from local convenience stores. How else can businesses facilitate easier cash withdrawals?