JPMorgan Chase
Scott Mlyn | CNBC
JPMorgan Chase will install new ATMs later this year that will allow customers to withdraw cash or initiate other transactions using their cellphone.
The move will include new cash machines that don't require a card and upgrades to existing machines that will allow customers to withdraw more money and in different denominations, said Chase spokesman Michael Fusco. The withdrawal limit will also be substantially higher, up to $3,000.
The first generation of these new ATMs will allow customers to access the machine by inputting a code found on their Chase mobile app, Fusco said. Future upgrades of machines will allow customers to use their cell phone's near-field wireless communication feature to access their accounts, using the technology that enables shopping checkout features such as Apple Pay and Samsung Pay.