- Using your phone to make an ATM withdrawal is faster than using a debit card
- Mobile ATM transactions are more secure than traditional debit card withdrawal
- Soon you will be able to use your phone to pay at restaurants and other participating establishments
Banks are revolutionizing the way you withdraw money. Instead of using a traditional debit or credit card at an ATM, you will be able to log into a banking app on your cell phone and order cash up to 24 hours before a transaction.
Financial Services giant FIS announced the innovative mobile banking technology at the Money2020 conference in Las Vegas this week. Three banks have already begun testing the app and hope to launch the services in their ATMs by the end of 2014.
The three participating banks thus far are Wintrust in Illinois, BMO Harris in Chicago, and City National in Los Angeles. FIS announced this week that they have been gaining attention from a number of other large banks as well as smaller institutions about the mobile banking app.
Mary Monahan, of Javelin Strategy & Research, believes that using a cell phone to make cash withdrawals is much safer than using a debit card.












Comment: See also:
The Comet and the Chicago Fire
Comet Biela and Mrs. O'Leary's Cow