Update to Commbank app gives you cash without a card

Commbank Cardless Cash
ATM cards are so 2000s

Never worry about card-skimming again, at least if you're a Commonwealth Bank customer. The Aussie bank is rolling out an update to its Commbank app that allows ATM withdrawals using nothing but your smartphone.

Available at over 3,000 ATMs around the country from this month, the new service will allow Commbank customers with iOS and Android devices to withdraw funds without entering their card into the machine.

What's more, you can also allow friends or relatives to collect the cash on your behalf. After selecting the amount of moolah you want to withdraw, the app will provide you with an 8-digit cash code and a four-digit cash pin, which both need to be entered.

And for anyone scared of being defrauded, the bank is restricting this new service to just one cardless withdrawal a day and a transaction limit of $200.

Lock and Load... Wait! I mean Lock and Limit

The bank is also set on offering customers a lot more control over their accounts by using technology. A big part of this is the introduction of Lock and Limit, which does exactly what it says: allow customers to lock and limit their account.

In particular, it offers the ability to lock things like international transactions (both in store and online), block ATM withdrawals (for those who detest cash) and set limits on transaction amounts to prevent overspending.

All of these features are controlled from the Commbank app, showcasing just how integral mobile has become as part of the bank's strategy.

Small business as usual

Commonwealth Bank yesterday announced a new CommBank Small Business app, aimed at helping mobile small businesses with transactions on the go.

The CommBank Small Business app, which will be available on iOS and Android in June, makes it easier for small businesses to accept on-the-spot payments via contactless, CHIP & PIN and swipe payments, BPAY, EFT, cash or cheque.

The app, which will cost users $30 per month on the Simple Merchant Plan, also features estimate and invoice creation, payment tracking, debt management and secure payments.

Customers will also have access to 24/7 tech support, which we hope will amount to more than a baffling maze of menu options followed by an exchange with a disinterested tech "expert."