News

Cashing out card rewards? Wells Fargo customers can do it at the ATM

A new option allows Wells Fargo cardholders to turn card rewards into account credit or cash at 12,500 ATMs nationwide.

February 5, 2015

Wells Fargo & Co. has announced that customers participating in The Wells Fargo Rewards Program can now redeem their rewards at more than 12,500 Wells Fargo ATMs. Wells Fargo is the first major U.S. financial services provider to introduce this functionality, according to a press release.

The new ATM feature allows customers to either:

redeem rewards in the form of a cash withdrawal; or
redeem rewards in the form of a deposit or payment to a qualifying Wells Fargo account, including checking and savings accounts, credit cards, mortgages, home equity loans and personal loans.

Customers can redeem rewards in increments of $20 at the ATM.

"Customers live their lives on the go and being able to conveniently and simply access their accounts and rewards when and how they want is important," said Alicia Moore, head of Wells Fargo ATM Banking. "We are always looking for ways to add innovative features and benefits to our ATM network ... By providing customers the ability to redeem rewards for cash or account credit directly at the ATM, we've made it more convenient for them to feel truly rewarded for doing business with Wells Fargo."

Wells Fargo has a long history of ATM innovation, the release said. In 2010, the company was the first bank to offer ATM receipts via email, and by 2011, its entire ATM network was EnvelopeFree. In 2013, Wells Fargo was the first to offer ATM receipts via text messaging. Also that year, the company announced that its customers had conducted 1 billion paperless transactions at its ATMs.