Westpac launches emergency cash for Aussies stranded with no ATM card
With the recent release of the Commonwealth Bank’s smartphone ATM access, Westpac has launched its Emergency Cash feature, which enables customers to access their cash without an ATM card with just one phone call.
How the cardless withdrawal feature works (for Westpac customers) is if your debit card is lost or stolen, you can call Westpac’s 24/7 call centre and you will be issued a unique code which enables you to withdraw cash from your account at the nearest Westpac ATM. You’re allowed up to 3 cardless withdrawals a day to the value of $1,000, with a total withdrawal limit of $2,000 per week.
Customers will need to identify themselves through a series of questions prior to being issued a unique 6-digit cash code, which will expire within three hours or immediately after it has been used. With so much tech-savvy bank technology being launched, Mozo encourages Aussies to compare the debit card market to find the best card for you and your needs.
The Westpac Emergency Cash Report showed almost 4 million Aussies are stranded without cash each year and nearly 2 million ATM cards are reported lost or stolen annually. Consequently, more than half of Australians felt 'lost' without their ATM card, and once they realised they had lost their wallet 65% of participants said they felt worried, 60% upset and 55% angry.
Westpac’s chief of product David Lindberg said the Emergency Cash feature helps customers get cash when they need it, making the loss or theft of a debit card a little less inconvenient, less stressful or in some cases even a little less embarrassing.
“Whatever your cash emergency is – whether you’ve lost your wallet, it’s been stolen or you’ve simply left it at home – it can be solved by a quick phone call any time of the day or night, to receive a cash code to get your cash.”
While the new Emergency Cash feature is being rolled out now, from September Westpac customers will be able to generate a code in Westpac Mobile Banking to make a cardless cash withdrawal.