Need some fast cash? Wells Fargo credit cardholders now have one more option at their disposal.
The bank announced Wednesday that these customers can redeem their rewards for cash at more than 12,500 Wells Fargo ATMs nationwide.
Cardholders can redeem rewards at the ATMs in increments of $20. They can opt to redeem them as a cash withdrawal or in the form of a deposit or payment to a qualifying Wells Fargo account, including checking and savings accounts, credit cards, mortgages, home equity loans and personal loans.
The bank says it is introducing the option to add flexibility for cardholders.
“Customers live their lives on-the-go and being able to conveniently and simply access their accounts and rewards when and how they want is important,” said Alicia Moore, head of Wells Fargo ATM Banking, in a press release.
You can see a version of the new ATM screen below.
Wells isn’t the only issuer to recently enhance rewards redemption options in an increasingly competitive credit card marketplace.
Back in November, Discover eliminated thresholds for its rewards redemption options. It also announced rewards would no longer expire when either the cardholder or Discover decides to close their account.
Would you cash in your rewards at the ATM? What other innovative rewards redemption options would you like to see your issuer introduce? Let us know in the comments below!
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