About this Deal
|T-Mobile has just announced that they will be entering the banking business with a huge interest rate that's far above the national average. This new banking service will be called T-Mobile Money, and there's no minimum balance requirement, plus no monthly, overdraft, transfer, or late-payment fees! To make it even sweeter, the potential interest rate is 4% (on balances up to $3,000). |
T-Mobile is partnering with BankMobile to create this new service.
While the checking account will be available to everyone, the 4% interest rate and other perks are only available for subscribers of T-Mobile's postpaid plans (such as T-Mobile One or Simple Choice). You also must deposit at least $200 per month to receive the 4% rate.
For non-customers of those plans, the rate is 1% on checking account balance, which is still about 4 times the average rate.
The checking service will also spot you $50 for one month if you overdraw your account. However, you must pay back the overdrawn amount within 30 days or you risk losing the feature.
Want to know more? Read the article at USA Today.
What do you think of T-Mobile's new banking service? Will you be using it? Let us know in the comments!