Wells Fargo to use Visa for ATM transactions (2024)
SAN FRANCISCO - Wells Fargo & Co. says it will use Visa's Plus network rather than MasterCard's Cirrus ATM network or the Starnetwork for its ATM transactions.
Wells Fargo, the nation's second-largest debit card issuer, also will use Visa's Interlink network for point-of-sale transactions and will keep Visa asits primary brand for credit and debit cards.
According to a Wall Street Journal report, Wells is expected to make the switch when its contract with Concord EFS, owner of the Star network expires in 2004.
The report said that Wells Fargo's decision to give Visa business that it had been awarding to Concord, a payments company that has agreed to be acquired by First Data Corp, is awin for Visa in a year in which the credit-card brand was rocked by litigation and tension with its member banks.
According to the Wall Street Journal, the decision heightened concerns among some industry executives and analysts about whether First Data would be able to complete its pending $7.1 billion deal with Concord, which has had trouble retaining some bank customers. As many as eight more of Concord's big bank contracts are up for renewal at the end of 2004.
However, other observers suggested the loss of Wells Fargo could potentially help the deal clear regulatory hurdles because it indicates robust competition in the payments industry.
Wells Fargo ATMs: You can use a contactless debit card plus your PIN to tap for access at any Wells Fargo ATM. If you wish, you can insert your contactless debit card anytime for access at Wells Fargo and non-Wells Fargo ATMs that display the Visa® or Plus® logos.
How do I use my credit card at ATMs? A Personal Identification Number (PIN) assigned to your Wells Fargo Credit Card account will enable you to get a cash advance at Wells Fargo ATMs, as well as participating ATMs worldwide. You can access up to $500 per day from your credit card account.
As long as your ATM or credit card has either a Visa or PLUS logo, you can withdraw cash at ATMs that are part of the Visa or PLUS network. How do I find an ATM in the country that I'm traveling to? Visa is accepted at over 200 countries and territories around the world.
You can use your Visa Debit card to: Place an order online, by phone or mail. Get money out of an ATM using your PIN. Swipe or insert (chip)² your card at merchants that don't require a signature.
However, what we must know is that they are two different cards. An ATM card is a PIN-based card, used to transact in ATMs only.While a Debit Card, on the other hand, is a much more multi-functional card. They are accepted for transacting at a lot of places like stores, restaurants, online in addition to ATM.
Most credit card companies allow cardmembers to use their credit card at an ATM, which will show up as a cash advance on your credit card statement. You can use your credit card at most ATMs the same way you'd use a debit card, but you aren't drawing from a bank account.
Ways To Withdraw Cash Using Credit Cards Without Charges
The best option is to get a card that offers cash withdrawals without any charges or fees. While it might be difficult to find one of these cards, there are a few that do. In addition, such cards usually charge high joining fees.
Go to an ATM and insert the credit card. Enter the credit card PIN (call the number on the back of the card to find out the credit card PIN or to set one up). Select the appropriate options if offered: “cash withdrawal” or “cash advance.” If asked to select between “credit” or “debit,” select “credit.”
Unauthorized transactions, unusual use patterns, lost or stolen cards, or scams and malware can automatically trigger a card decline as a safety measure. Protect yourself by using mobile and online banking to keep an eye on your activity in real time so you can quickly see and report any unrecognized transactions.
Wells Fargo credit cards can be either Visa or Mastercard, depending on the card. Most Wells Fargo credit cards, like the Wells Fargo Reflect® Card, are on the Visa network. Currently, Wells Fargo only offers co-branded credit cards on the Mastercard network.
You may use your VISA Gift Card at any Merchant displaying the VISA logo as a signature-based transaction or by utilizing the PIN at any Merchant or ATM displaying the Plus, Pulse, NYCE or STAR network logos.
Visa Debit is accepted by US and International online, in mobile apps, telephone, and mail order retailers that accept Visa. When shopping in stores outside of Canada, Visa Debit (excluding Virtual Visa Debit) is accepted wherever Visa is accepted.
Introduction: My name is Dr. Pierre Goyette, I am a enchanting, powerful, jolly, rich, graceful, colorful, zany person who loves writing and wants to share my knowledge and understanding with you.
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