Varo is known for its safe and secure online banking system that provides a seamless banking process for people who love to perform all of their banking operations online. Learning to withdraw money from Varo without a card can make your banking experience easy and more satisfying, however, can the money be withdrawn from an ATM without a debit card?
With the new digital bank cardless ATM, this is possible. The ATM allows users to withdraw cash without the use of an ATM card. All you need is a smartphone with your desired bank’s app and a bank account with the bank for a seamless cardless cash withdrawal process.
Although digital bank cardless ATMs aren’t found everywhere as it’s a newly launched concept, other alternatives will be explored in this article. So, if you’ve misplaced your debit card, or you stepped out without the card, I’ll provide ways you can get cash without a card.
What Is The Best Way To Withdraw Money From Varo Without A Card?
To avoid the risk of carrying your debit card everywhere, or, you probably lost your card, there are quite a number of ways to withdraw money from Varo without a card. The safest way to withdraw cash from your Varo account is by using a digital bank cardless atm. However, before the introduction of the cardless ATMs, the following were ways to withdraw money from Varo without a card:
- Using other applications such as Google Pay, Apple Pay, PayPal:
Since the Varo debit card details are saved in your bank app, all you need to do is to open either of the above-mentioned applications to add the card details. After adding the card details, a verification process will be done where an OTP(One Time Password) will be sent to your registered number. Once the password is entered, your verification will be completed and you can readily use your Varo card with these applications.
- Transferring funds to your other bank account:
This works fine if you have another bank account linked to your Varo account and you have the account’s debit card with you. Although this is a time-consuming process and this method isn’t the best as transfers can take about two days to finalize, here’s how to transfer money from your Varo account to the other bank:
- Open your Varo bank application and tap “MOVE MONEY” > “TRANSFER MONEY”.
- Select From: Varo Bank Account, To: the account you want to receive the money with.
- See the limit for the transfer under the transfer amount.
- Sending money to your friend’s account:
If you’re out with your friend and they happen to have their debit card with them, you can transfer the money to their bank account and withdraw the cash using their debit card. There are no fees while transferring from a Varo account to another Varo account and the transfers are instant. Here’s how to transfer from a Varo account to another:
- Log in to your Varo app and tap “MOVE MONEY” at the bottom of the screen.
- Click “Varo to Varo transfer”.
- Enter the recipient’s email address.
- Enter the amount you want to send.
- Review the transfer details and tap “SEND MONEY”.
Now that cardless ATMs have been introduced, you need not worry about the above processes except the cardless ATMs aren’t close to you.
What Are Cardless ATMs?
These types of ATMs allow you to access your bank account to perform bank transactions without your debit card. They rely on smartphone verification. This verification process is done by SMS messaging or a smartphone banking app.
Instead of using a card, these types of ATMs use various types of technologies to link a Mobile App on your smartphone to the ATM. After completing the verification process, you’ll be able to perform your transactions successfully on the ATM just like you would if you insert a debit card into the ATM.
The first Cardless ATM was launched in America by the Bank of America back in 2016. Several other banks like Chase, BMO Harris, and Wells Fargo adopted the new technology and empowered their ATMs with cardless access. Varo has also adopted the new technology.
The two major types of cardless technologies used to connect your digital debit card information to the ATM include- App generated codes and Near-field communication(NFC).
Near-Field Communication (NFC)
Near-Field Communication(NFC) is a close-range technology that lets you hold up your smartphone to the ATM’s receiver thereby transmitting data within a short range via radiofrequency. Most users that use Apple Pay, Google pay, Samsung pay, or even a credit card with an NFC chip are seasoned users of the NFC technology.
At cardless ATMs enabled with NFC, all you have to do is to hold up your smartphone with the mobile wallet or banking app open to the ATM’s NFC receiver. Once the ATM completes the verification process and has confirmed that it’s received your information, you can use the ATM to perform your bank transactions like you would if you insert a debit card.
Under App-Generated codes, there are various ways in which codes can be generated for verification purposes. They include- QR codes, Mobile App verification codes, and Biometric verification.
Quick Response codes(QR codes), are similar to barcodes that you can scan with your smartphone’s camera. These codes’ complex designs allow the communication of more information than a barcode would.
Cardless ATMs enabled with QR tech will generate a QR code and display it on its screen for you to scan. You’ll then use your Mobile Banking App to scan the code to verify your identity. After your identity is verified with the Mobile Banking app, you’ll be able to complete your transaction on the ATM.
Mobile App Verification Codes
Mobile App verification codes work more like two-factor authentication(2FA) for adding a layer of security to your logins. The Mobile App verification codes at cardless ATMs let you use your Mobile App for the majority of your transactions.
Once you log in and choose what kind of transaction you want to perform, the app will generate a one-time verification code that will be entered into the ATM along with your PIN. After entering the code, you can go ahead to complete your transaction.
Biometric Verification only works with devices that use biometric data for your identity verification. For example, if your phone or laptop unlocks with fingerprint or facial recognition, you’re already using biometric verification. To use this with the cardless ATMs, your bank should have your biometric details prior.
When you access a cardless ATM with biometric information, the machine scans your fingerprint, iris, face, or palm print and compares it with the biometric data in your bank. Once it confirms the data, it grants you access to perform your transactions seamlessly.
Do Cardless ATMs Work With Varo?
There’s been a lot of misconceptions about the cardless ATMs not working with Varo. Although this is a new development in their banking app, Varo now allows cardless transactions on ATMs using their banking apps.
Since Varo is a bank with the mission to make online banking easier, adding the cardless atm transactions feature to their Mobile Applications does make banking easier for users in the digital age. It’s easy to connect your Varo visa debit card to your smartphone for swift and secure transactions.
Moreso, Varo’s Mobile Application allows you to locate the nearest ATM with its ATM locator feature in order to find the closest Allpoint cardless ATMs near you.
How To Withdraw Money From Varo Without A Card
Since the invention of the ATM, withdrawing cash has been made easy with a debit card. But today, you can walk to the nearest ATM around you and withdraw money without using a debit card. Here’s how to withdraw cash from Varo without a debit card:
- Open your Varo Mobile Application.
- Navigate to “MOVE MONEY” and click on it.
- Click on the “FIND ATM” button.
- Search for the nearest cardless ATM in the locator.
- Visit the cardless ATM once you’ve chosen an ATM close to your location with your smartphone.
- Confirm if the ATM supports mobile cash access. Select the mobile cash access if the ATM supports it.
- Open your Varo bank application on your mobile phone and select the cardless ATM withdrawal option.
- Enter the amount you’d like to withdraw.
- You can choose to scan the QR code or wait for the app to generate a verification code.
- In the ATM, enter the generated code.
- Wait for the ATM to count and release your cash.
- Finish your transaction or perform another transaction.
Do Cardless ATMs Take Provision?
Depending on the method of verification you use, a cardless ATM could require you to input some details- mostly pins and generated codes. If you choose to use NFC, after connecting to the ATM, the ATM could require you to input your pin. In addition, if you decide to use App-generated codes, most of the transactions will be performed on your phone, and once the QR code is scanned, the cash dispensation happens.