Chase has rolled out cardless transactions to nearly all of its 16,000 ATMs.

The feature, which it started to deploy in 2016, allows Chase customers to open their mobile wallet, tap their phone, and then enter their PIN to access their account.

The largest banks in the US have been investing millions in updating the capabilities and physical appearances of their thousands of ATMs as their digital and mobile customer bases balloon.

It makes life more convenient for customers, but it could also result in savings for the bank.

At nearly every one of JPMorgan Chase's 16,000 ATMs, customers no longer need a card to take out cash.

Chase announced Wednesday that it had rolled out cardless transactions to most of its ATM network, meaning customers no longer need a physical debit card and can instead retrieve cash using a mobile wallet — such as Apple Pay, Google Pay, or Samsung Pay — on their smartphone.

At ATMs with a cardless symbol (see below), customers can open their mobile wallet, tap their phone, and then enter their PIN to access their account.

Here's Chase's simple visual guide to performing a cardless transaction:

JPMorgan Chase

Chase began rolling out the feature — which uses the "near-field communication" technology that enables transactions from mobile wallets — in 2016, and Bank of America and Wells Fargo have debuted similar capabilities as well.

The largest banks in the US have been investing millions in updating the capabilities and physical appearances of their thousands of ATMs as their digital and mobile customer bases balloon.

While cardless transactions are a convenient perk to Chase's more than 30 million active mobile customers, the feature could also result in savings for the bank.

It costs banks about $0.20 to replace a lost, stolen, or otherwise corrupted card, according to the consulting firm A.T. Kearney, a sum that can add up when you serve tens of millions of customers, as Chase and its largest competitors do.

The more customers can rely on their already omnipresent smartphones, the more likely they are to phase out cards that fatten their wallets and can more easily be lost or compromised.

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