Wells Fargo has become the first major U.S. financial services provider to introduce the ability for customers in The Wells Fargo Rewards® Program to redeem their rewards at more than 12,500 Wells Fargo ATMs.
The new ATM feature allows customers to either:
1 Redeem their rewards in the form of a cash withdrawal, or
2 Redeem rewards 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.
Customers can redeem rewards in increments of $20 at the ATM.
In 2010, Wells Fargo was the first bank to offer its customers email receipts at its ATMs and in 2011, it announced that its entire ATM network was Envelope-Free. In 2013, Wells Fargo was the first to offer its customers the option to receive ATM receipts via text messaging and the same year, the company announced that its customers had conducted one billion paperless transactions at its ATMs.
The Wells Fargo Rewards Program offers thousands of rewards choices for consumer credit cardholders, including cash, gift cards, digital downloads, travel, popular brand-name merchandise and charitable donations. The program also allows cardholders to increase their savings or pay down loans through automatic rewards redemptions into a wide variety of Wells Fargo deposit or loan products. Customers earn rewards points, cash rewards or rebates by making purchases using their Wells Fargo Rewards credit cards and they can earn bonus rewards by shopping through Earn More Mall®. Wells Fargo Rewards is currently undergoing enhancements to offer new features to help customers achieve their financial goals, connect to others through the program, make their everyday spending more valuable and give them greater control and choices.
For more data on Wells Fargo access CardData®. For information and commentary on Wells Fargo visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Wells Fargo are available exclusively through CardWeb.com.®