Guide to digital wallets | Wells Fargo (2024)

FAQs

How to use digital wallet from Wells Fargo? ›

Add your Wells Fargo Debit Card to your digital wallet to easily access your accounts using your mobile device at any Wells Fargo ATM. ¹ Tap your digital wallet near the Contactless Symbol on the ATM and enter your PIN.

Use your wallet to pay wherever you see the Contactless Symbol by holding your phone up to the symbol on the terminal. When shopping online, some sites let you select a Digital Wallet as your payment option at checkout instead of having to enter your card information each time you make a purchase.

While digital wallets are inherently safe, you can take precautions to keep your payment information and device secure. The following four S's can help set you up for security and mobile banking success. Always lock your phone and set up separate passwords for your digital wallet and mobile banking apps.

Using Your Digital Wallet

Look for a symbol at the checkout counter that indicates your digital wallet is accepted. Then, open your digital wallet app, select the card you want to use, and hold your phone near the payment terminal. You'll either need to enter your PIN or use your fingerprint to confirm the payment.

Transfer money out of the Google Wallet website

Click Payment Methods. Transfer out. Enter the amount that you want to transfer out. Select the bank account that you want to transfer to.

At the ATM, open your mobile app or digital wallet to start your transaction. If you're using a digital wallet, pick the virtual card you want to use. Tap the ATM or scan the QR code. At an NFC-equipped ATM, tap your phone on the ATM's contactless symbol on the ATM.

Digital wallets and bank accounts can both help you store and spend money. However, digital wallets are primarily meant as a replacement for the physical cards, keys and passes that you might otherwise need to carry. Bank accounts are offered as a safe place to keep your savings.

While you wait for replacement credit cards and a new debit card, you can access your money from your Wells Fargo checking account card-free by using a digital wallet option.

Contactless forms of payment such as digital wallets are always more secure than swiping a card, he added, noting that scammers are still known to put card skimmers on credit card readers to steal the customer's information. If you use a digital wallet, “you are always going to be in control,” McKnight said.

What is the difference between a mobile wallet and a digital wallet? ›

Though digital wallets and mobile wallets are very similar, they aren't the same. Digital wallets are typically meant for online transactions, whereas mobile wallets are tied to a smartphone or wearable device. Both connect to bank accounts and credit cards for purchasing on the go.

Using a digital wallet involves a straightforward process for both online and in-person purchases. Users unlock the wallet app using facial recognition, fingerprint identification, or a PIN code and then choose their preferred payment method stored in the app.

Attackers gain unauthorized access to a digital wallet. They might do this through phishing or the use of compromised credentials. This allows them to make purchases, steal payment information, change account details, or sell login information.

Privacy concerns

When using a digital wallet for payments, transaction data may be tracked, leading to privacy concerns about the security of personal information stored digitally. The idea that third parties could track and analyze your financial behavior is a significant privacy concern for many users.