Three banks in Chicago, Los Angeles and Illinois are testing a service that allows bank customers to use an app that would let them retrieve ATM cash in seconds.

The three banks, Wintrust (IL), BMO (Chicago), and City National (Los Angeles), are all making banking easier with the app called Cardless Cash Access (CCS).

It generates a QR code to scan at the ATM to make sure you are at the machine when cash gets dispensed. Developed by bank technology firm FIS, it is one of the latest innovations in cardless ATM technology.

Physical cash can be placed up to 24 hours in advance of the pickup or even seconds beforehand. Open the CCS app and show the aforementioned code and your cash is dispensed very quickly. Retrieval takes nine seconds, compared to the usual 30-40 seconds spent per ATM run.

The whole system is pretty secure too. If someone steals your phone, they would first need to know your phone lock passcode. Then they'll need your bank logins, and then your PIN number.

The codes are also a one time use thing, as each QR code is likely generated to a certain transaction, hence it cannot be used again.

Would you withdraw money this way? Sounds like it'll save you tons of time!

CNN, via FIS