SmartCash is available at ATMs in around 500 BAWAG P.S.K. branches. When a SmartCash withdrawal is ordered, a ten-digit code is generated either by BAWAG’s eBanking service or its eBanking app and transmitted to the user via text message.
This code, which is valid for four hours after being sent to the user, can be used for a single withdrawal of cash in an amount between ten and 400 euros. Once the code is entered, it becomes invalid for further withdrawals.
If a higher amount is needed, it can be withdrawn in combination with the account holder’s own bank card: customers can get up to 5000 euros from an ATM using the combination of a bank card, a PIN and a code, eliminating the need to stand in line at the teller window.
The new service was introduced in October 2014, and user numbers have risen steeply since then. According to Athir Findi, who heads the bank’s department for direct sales online banking and brokerage, "It was important to us to offer our customers more convenience and flexibility with BAWAG P.S.K.’s new SmartCash function for eBanking and the eBanking app. Cash withdrawals without a bank card are a future-proof solution with a strong focus on customer benefits."
The technology that enables the new service is Wincor Nixdorf’s software platform PC/E with a smart client component that runs on the ATM, and a server component that authorizes the withdrawal via the code. Josef Pichler, Director Software & Solutions, Wincor Nixdorf Austria, says, "In close cooperation with the retail banking experts at BAWAG P.S.K., we were able to create a very customer-centric solution that meets the demand for omnichannel banking services."
