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T-Mobile Bank? Yep, T-Mobile jumps into banking

T-Mobile's new program called Mobile Money provides the company’s wireless subscribers with checking accounts that offer free activation, monthly maintenance and ATM withdrawals at any of the carrier’s 42,000 in-network partner ATMs.

t-mobile ba nk

T-Mobile more than any company out there is all about shaking up the industry. The so-called Uncarrier has decided to take on the banking industry. T-Mobile’s new program called Mobile Money provides the company’s wireless subscribers with checking accounts that offer free activation, monthly maintenance and ATM withdrawals at any of the carrier’s 42,000 in-network partner ATMs. Bonus; there is also no fee for replacing lost or stolen cards and no minimum balances required. This is part of T-Mobile’s “Uncarrier 4.0″ initiative which offers to pay families who break their contracts with rival carriers and switch to T-Mobile. T-Mobile’s ATM network is very extensive and you can also take out cash through retailers, just like you can now with your bank debit card.

T-Mobile CEO John Legere said

“We’ve already transformed how Americans use and pay for phones, tablets and wireless service; why stop there? Millions of Americans pay outrageous fees to check cashers, payday lenders and other predatory businesses – just for the right to use their own money. Mobile Money shifts the balance of power for T-Mobile customers and keeps more money in their pockets.”

You do not have to be a T-Mobile customer to take advantage of this new Mobile Money service. However, It is a prepaid debit card. That means no credit check is needed but or you will need cash to be deposited to back up the card. A really cool feature is that the T-Mobile Mobile Money app for the iPhone or Android lets you take photos of checks to deposit into your account, pay bills, add funds, view your account, transfer funds, and find ATMs. These new T-Mobile prepaid debit cards will be available in T-Mobile retail stores today starting today and in Safeway stores in February.

 

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