Westpac announced plans yesterday to roll out a card-free cash withdrawal system for its national network of 2,000 ATMs, matching Commonwealth Bank Australia's (CBA) cardless cash offering, which was also announced yesterday.
The new "card-free cash solution" will allow customers to make up to three withdrawals per day from an ATM, up to the combined value of AU$1000. The service will allow for a AU$2000 limit per week.
Westpack has not indicated when the roll out will be completed.
With the new service, customers will have to dial Westpac's call centre to obtain a unique six-digit code to make cardless withdrawals. Westpac says the service will be available 24/7.
According to Westpac, the six-digit code will valid for a short period from the time of the phone call, offering customers an "added layer of security".
Andy Kerr, Westpac's head of Everyday Banking, said in a statement that the development of the new service has been prompted by customer feedback.
"Our customers have told us that being left stranded without access to cash is one of their biggest fears when it comes to banking. Our cardless cash solution allows quick and easy access to cash 24/7," said Kerr.
Westpac's cardless cash withdrawal service announcement was made as CBA unveiled its cardless cash service, which is set to be rolled out to 99 percent , or around 3000, of the bank's ATMs nationally.
CBA claimed its cardless cash service was the first to be offered in Australia.
CBA's cardless cash service is designed to be used with the CommBank mobile app and allows customers to withdraw up to AU$200 per day without a card.
It also allows customers to authorise remote withdrawals from an account by non-account holders via a mobile phone and PIN authorisation process.
CBA's cardless cash service was announced along with a new mobile merchant payments app and smartphone-paired card reader, Emmy, that can accept several card-based reader systems, including contactless, chip and PIN, and swipe.