T-Mobile MONEY is a mobile app provided by T-Mobile. One of the biggest wireless companies in the U.S. T-Mobile MONEY offers an FDIC insured high-interest checking account with no account overdraft fees, no minimum balance, and over 55,000 no-fee ATMs worldwide with Allpoint ATM Network. The checking accounts are held at BankMobile, a division of Customers Bank, which is a member of FDI. Therefore, you can enjoy all the perks of easy online banking at no cost with the peace of mind of your money being insured and protected.
Perks of T-Mobile MONEY
The biggest perk of opening an account with T-Mobile MONEY is the high-interest rate you get for your money. They claim their interest rate is 50X more than the average U.S. checking account. Plus, the security of knowing that they keep your money at an FDIC insured institution. You can manage all your money using their mobile app, available for iPhone and Android devices. Some benefits of opening a high-interest checking account with TMobile MONEY include:
- Higher interest rate than average U.S. checking account: They claim 50X times higher.
- FDIC insured account: BankMobile, a division of Customers Bank, which holds your T-Mobile MONEY account, is FDIC insured.
- No fee banking: No overdraft fees, no account maintenance fees, no minimum balances fees, and access to a wide range of free ATMs worldwide.
- No-fee ATMs: Over 55,000 no-fee Allpoint® ATM Network worldwide.
- Digital banking: Pay bills, transfer or receive money to or from external accounts for free, send checks, send or receive money to a friend, set up direct deposits—all from the convenience of your mobile app.
- Cash deposits: Make cash deposits at participating merchants.
- Debit card: Spend your money how and when you want with a debit card with EMV chip and mobile wallet compatibility.
- Get paid earlier: Deposit your paycheck automatically to get paid up to 2 days early (*subject to description and timing of the employer payroll-based direct deposit).
- 24/7: Access your money 24/7.
- Security: Prevent unauthorized account access with multi-factor authentication. Log in to the app with Fingerprint Scanner. Enable or disable your debit card remotely if it is lost or stolen.
At this moment, T-Mobile MONEY only offers a checking account and does not offer joint accounts or business accounts. And each person can only open one checking account with them.
Who Can Open a T-Mobile MONEY Account
To open an account, you do not need to have a wireless plan with T-Mobile, but you do need to meet the following requirements:
- Be of legal age.
- Have a U.S. government-issued ID or state-issued driver’s license or ID.
- Have a Social Security Number.
- Have a street address with the U.S. and Puerto Rico, excluding other U.S. territories.
How to Open a T-Mobile MONEY Account
If you meet the requirements to open an account with T-Mobile, there are two ways you can sign up with them:
- Mobile App: Download the T-Mobile MONEY app from the Apple Store or Google Play Store, depending on your device’s model. Once you have installed the app, follow the instructions to open the account.
- Web App: Visit their website, click on sign up follow the instructions to open the account.
Get higher interest rates than the average checking account in the U.S. opening a T-Mobile MONEY checking account today.