Imagine withdrawing money in Automatic Teller Machine (ATM) without using any card. This is what Wells Fargo is planning to do.  It sets a plan to launch a new concept of mobile transaction. This way, its customers do not have to use any physical card to make withdrawal in ATMs. If it is made real, then ATM transaction will be much easier. The customers do not need to worry of losing the debit card.

Card-Free ATM Will Make Use of a Web-Based App

As reported by CNNMoney, Wells Fargo will offer a web-based app that allows the customers to make a transaction. The customers will be given an 8-digit access code that serves as an ATM PIN number. The app will be accessible from the smartphones, thus allowing the users to make a transaction anytime and anywhere.

As reported by Wells Fargo spokesperson, the card-free ATM service will be available for all of its 13.000 automatic teller machines. If the plan is made to reality, Wells Farg will be a game changer, since it will be the first financial institutions to offer such total change in services.

Actually, Bank of America has launched a similar service, but it is still on a small scale since the bank is seemingly testing whether the service offers added values or not. The cardless service is now available on half of its ATMs. If the service is proved effective, BAC will convert all of its ATMs. Similarly, JPMorgan Change is also trying out the card-free services in three states, namely Florida, Ohio, and California.

Does the Cardless ATM will Make A Difference?

Many experts question the value of the cardless ATM service. Some is skeptical, as the card-based and cardless ATM service will not make a any difference. Some other things that this is only a strategy of  Wells Fargo to repair its badly bumped reputation. As widely reported, the bank has to pay $185 million fine due to fake account scandal. The scandal had forced its CEO, John Stumpf to resign in October 2016.  The scandal involved millions of account, which were opened without authorization from the customers.

It seems that the bank has been facing difficult times throughout 2016. Besides the fake account scandal, the bank is also facing opposition to the Dakota Access Pipeline, in which Wells Fargo has invested. The project has led to nation-wide controversy.

In an effort of repairing its reputation, Wells Fargo is setting a plan to change its compensation plan. The new plan will put more priority on customer services rather than on sales volume. By giving emphasis on customer service, the bank is expecting to regain trust from the customers. Therefore, the bank management commits to make continuous changes.

When visiting Wells Fargo’s official website, you can see information on the features, advantages,  and demo of the cardless ATM service. Fortune online reported that the service would be available this spring. Actually, the plan has rolled out since June 2016. Let’s see whether the plan will be made real.