Commonwealth Bank customers will be able to withdraw cash from ATMs by using their smartphones and without a card from next month.
Withdrawals are limited to one transaction a day, up to $200, and customers must first have the CommBank app installed on their smartphones.
Customers who want to collect the cash themselves can select the amount to withdraw and the account via the app.
Two unique numbers will be issued — an 8-digit cash code and a 4-digit cash PIN.
At the ATM, customers select the ‘withdraw cardless cash’ option, enter both codes and the cash and receipt will be dispensed.
There’s also an option for someone else to collect the cash on a customer’s behalf.
Through the app customers can select the person from the phone contacts or enter someone’s mobile number, then determine the withdrawal amount and account.
The customer will be given a cash code to be shared with their representative, who will receive the cash PIN directly from CBA.
They would need both numbers to get cash from the ATM.
CBA said it 2.3 million customers use the CommBank app on iPhones and Android mobiles. More than 3000 ATMs will be progressively equipped with the cardless cash feature.
The bank also unveiled ‘lock and limit’ for its credit card customers which can control security and spending through the app.
For example, it can block overseas transactions where the card isn’t present.
It also launched a small business app that can accept on-the-spot payments, create estimates and invoices immediately and help manage cash flow.