T-Mobile has a new mobile banking service

T-Mobile returns in mobile banking.

The company has quietly launched a pilot project for a mobile banking service called T-Mobile Money. The service's website does not charge any fees, such as writing or using an automated teller machine. Its implementation is limited.

T-Mobile Money's chequing accounts offer an annual interest of 1%, but T-Mobile's wireless customers can get 4% on balances of up to $ 3,000 if they deposit at least 200 dollars per month.

T-Mobile is associated with BankMobile, a division of Customers Bank, for this service.

This is not T Mobilefirst foray into the world of money. In 2014, the company deployed Mobile money, a way for customers without a bank account to store and reach their money. They could pay their bills using their phone and use a Visa debit card. Mobile Money stopped in 2016.