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TMOBILE MONEY VERIFICATION
It is completely separate."įighting robocalls: T-Mobile, Comcast turn on call verification between networks in latest robocall fight T-Mobile doesn't have visibility to any of your personal banking information. "We don't have transaction information, we don't know what your balances are. Minor says there is a "total separation" between Money and regular T-Mobile. T-Mobile says that while you can use your T-Mobile Money debit card to pay your T-Mobile bill, the two accounts are not the same. Live customer support through BankMobile is available 24/7. Users also receive a physical debit MasterCard. Other perks include a simplified to process to set up direct deposit, integration with Venmo, PayPal and the Cash app, and a handful of paper starter checks. It is also available only to postpaid T-Mobile wireless customers. The checking service also will spot you up to $50 for one month if you overdraw your account – called "Got your back." You must pay back the overdrawn amount within 30 days or risk losing the feature. Minor says that BankMobile is handling "all the compliance" while T-Mobile is "delivering the customer experience in the wireless space." "We don't want to be a bank, we don't aspire to be a bank," Tiffany Minor, director of marketing for T-Mobile's financial services business, tells USA TODAY. The move comes after the self-proclaimed "un-carrier" recently announced plans to also take on home television and home broadband. T-Mobile is partnering with BankMobile, a division of Pennsylvania-based Customers Bank, on the new service. It also offers a potential 4% interest rate on balances up to $3,000 – compared with the industry average of 0.06%. The wireless carrier on Thursday introduced a mobile checking account that offers an interest rate thousands of times higher than the national average.Ĭalled T-Mobile Money, the new service has no minimum balance requirements and no monthly, overdraft, transfer or late-payment fees. T-Mobile is jumping into the banking business with a splash.
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