T-Mobile US announced that its mobile banking service is now available nationwide, following a trial launched last year. The free bank account can be opened and managed from a smartphone and offers T-Mobile postpaid customers extra interest on the account balance.
T-Mobile promises postpaid customers who deposit at least USD 200 per month in the account interest of 4 percent on balances up to USD 3,000 and 1 percent on anything higher. Other customers receive a standard interest rate of 1 percent. In addition, customers benefit from a USD 50 overdraft free if it's paid off within 30 days.
The service otherwise offers all the standard features of a checking account. Cash withdrawals are available at 55,000 ATMS nationwide with the provided Mastercard debit card, and the account benefits from standard federal deposit insurance. Customer service is provided over the app, in T-Mobile stores and a dedicated phone line.
T-Mobile Money is created in partnership with BankMobile, a division of Customers Bank. Customers can sign up by downloading the app from the Play and App stores.
