Embracing Mobile Technology

I’m a big believer in using mobile technology to make my life easier and reduce friction. That approach absolutely extends to banking and managing my finances. In addition to using Apple Pay when possible, I regularly use multiple finance related apps including PayPal, Fidelity, Chase, Citibank, and the banking apps associated with my personal and business checking accounts; and I periodically use Venmo.

I also regularly use apps, Fandango and Starbucks immediately come to mind, which allow me to pay for goods or services via my phone.

Count me among those who believe we’re rapidly approaching the day when you can conduct all of your daily finance related activities via your mobile device and never have to write a check, carry cash, or pull out a credit card.

A couple of days ago I was interested to learn that Wells Fargo Bank had introduced a new technology that will allow customers to withdraw money at all of its 13,000 ATMs without inserting their debit card.

A Richer Understanding | Mobile Investing

Customers wishing to use the service can get a use-only-once 8-digit code from the bank’s phone app. Customers then input the code and their ATM PIN number to access ATM options.

The morning after reading about the new option, I headed over to the Wells Fargo ATM around the corner from my house and tried the new procedure. I’m pleased to report it worked exactly as advertised and I estimate it took about half the time it normally does to complete my transaction, a cash withdrawal. Kudos to Wells Fargo for implementing this technology, saving me time and reducing friction

“We believe the future is cardless,” says Brett Pitts, the company’s head of digital for virtual channels. Agreed!

Blogger-in-Chief here at RetirementSavvy and author of Sin City Greed, Cream City Hustle and RENDEZVOUS WITH RETIREMENT: A Guide to Getting Fiscally Fit.


  1. I rarely take my wallet with me to the gym in the morning and was presently surprised that Bank of America has Cardless ATMs that allow customers to access most features, but I only needed cash 😉

    I agree that mobile will be utilized for all of our daily financial needs.

    • A cardless wave is absolutely coming. I love being on the leading edge of exploring new technologies and I actively look for apps that allow me to conduct my daily activities without reaching for a credit/debit card.

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