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T-Mobile may still be only a mobile operator at the moment, but it is striving to bundle television services into its offerings. But this next move came out of the left field.
A new list of banks related to Google Pay has set up a system called T-Mobile MONEY. Domain name thread followed by checking a whole bunch of areas that the Un-carrier bought – most of them were t-motomoney.com's typos.
T-Mobile has not yet officially recognized T-Mobile MONEY at the time of going to press.
The program itself, which is supported by the financial sector startup, BankMobile, is insured by the FDIC – clbadified under number 34444 under "Client Bank" – so that deposits up to $ 250,000 are insured.
The maximum T-Mobile offer for all balances is an annual percentage return of 1%. Its postpaid wireless customers receive the best treatment: those who deposit at least $ 200 a month can earn 4% APY on up to $ 3,000 in a checking account or $ 10. per month. They also get a $ 50 cover on overdrafts, as long as they pay the balance within 30 days.
The company does not charge an account fee or require a minimum balance. Customers can use 55,000 Allpoint ABMs at no charge.
Debit cards are issued by Mastercard and can be managed through the T-Mobile MONEY app and website. The map contains links to Apple Pay, Google Pay and Samsung Pay. Deposit by mobile check and direct deposit can be there. It is also supported by a 24/7 human customer service.
Whether you subscribe to T-Mobile for wireless service or not, you can subscribe to T-Mobile MONEY via the Android App, the iOS app or to this link.
This is not the first time that T-Mobile has been involved in mobile banking: it had a mobile money program until 2016.
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