STRATEGIC PARTNERS
WSFS says it is the first FI in the region — and just the fourth in the nation — to offer an option for cardless cash withdrawal at its ATMs.
July 6, 2015
WSFS Bank, the largest and oldest bank and trust in the Delaware Valley, with assets of $4.9 billion, has introduced WSFS Mobile Cash, a service that allows customers to withdraw cash from an ATM using just the WSFS mobile banking app. WSFS will be the fourth bank in the United States to offer the service, according to a press release.
"This product represents the latest in security, convenience and speed in regards to digital technology in banking," said WSFS President and CEO. "We are pleased to bring this to market as it aligns tightly with our strategic commitment to innovation throughout the entire organization."
Customers complete a withdrawal using WSFS Mobile Cash, a new feature in the bank's mobile app. At any WSFS Bank branch ATM, customers can select the "WSFS Mobile Cash" button on the ATM screen; choose a withdrawal amount; scan a unique cash code on the ATM using their phone; and then retrieve their cash and receipt from the ATM.
"No personal information — including card number and PIN number — is stored in the WSFS mobile banking app or on the smartphone," said Rick Wright, WSFS EVP and chief retail banking officer. "If a phone is lost or stolen, WSFS Mobile Cash is protected by the same login authentication security used for mobile banking."
The technology, which is now available to all customers, was introduced in a live demonstration at the WSFS Bank Center headquarters in downtown Wilmington, Delaware, and at the WSFS Bank branch in Media, Pennsylvania.
