Fifth Third latest bank to enable cardless ATM access
Fifth Third Bank in Cincinnati joined a small but growing group of banks allowing customers to access ATM services through their mobile devices.
The $142 billion-asset bank announced Monday that its customers now can use all functions of its ATMs with their Fifth Third mobile banking app instead of a physical card. Fifth Third operates approximately 2,500 ATMs in its 10-state retail footprint, all of which will offer card-free access, not includparter ATMs.
To use the service, customers sign into Fifth Third’s mobile banking app, choose the account from hich they want to withdraw money and tap on its cardless ATM icon. Next, they touch the ATM screen, scan the code that appears, enter their PIN and then begin banking.
Fifth Third joins Wells Fargo, JPMorgan Chase and other banks offering such a service, as banks seek to increase adoption of digital services as well as reduce fraud. Fifth Third said it also wanted to cater to its increasing mobile user base; it has seen a 40% increase in logins to the mobile banking app from December 2016 to December 2017.
“Fifth Third is bringing new innovations to customers on a regular basis, and I’m excited that this new feature connects two channels our customers use frequently — our mobile app and Fifth Third ATMs,” Melissa Stevens, Fifth Third’s chief digital officer and head of innovation, design and omnichannel experiences, said in a press release.