CBA customers to withdraw cash using smartphones

CBA customers to withdraw cash using smartphones
CBA customers to withdraw cash using smartphones

Commonwealth Bank customers will be the first in Australia to be able to withdraw cash from ATMs using only their smartphones.

From May, customers will be able to use their Commonwealth Bank app on an Apple iOS or Android smartphone to withdraw up to $200 cash in one transaction per day. The plan follows the development of ‘Tap & Pay’ technology, and is designed to give customers access to cash when their card isn’t available.

Michael Harte, chief information officer at the Commonwealth Bank, said in a statement demand for contactless and mobile payments is on the rise.

“Mobility is not a trend,” he said. “It is increasingly our way of life. These new mobile offerings will improve our customers’ banking experience by placing information-rich, value-added services and additional security at their fingertips at the time they need our help.”

More than 2.3 million users have registered to use the revised CommBank app since its launch late last year.

This article first appeared on SmartCompany.

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Finance

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