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T-Mobile Money: A banking platform that works like a digital checkbook

The third largest operator in the US launched T-Mobile Money, a banking platform that works like a digital checkbook. Users can deposit up to $ 3,000 with the service, funds that they can then use to make purchases and mobile transactions such as paying bills or sending money to other people.

In addition, the company will offer a physical debit card for those occasions when you need to pay in this way or withdraw cash. The card can be used in more than 55,000 ATMs worldwide.

In a statement, T-Mobile asserted that there are no annual fees to participate in or make transactions in T-Mobile Money and the money that remains in the digital account could earn interest of up to 4 percent per year.

T-Mobile also clarified that it does not charge for overdrafts, but this will be the case only for postpaid subscribers of the operator who sign up for an additional protection service, and they can not even exceed $ 50. There is no minimum balance requirement.

Any person residing in the USA and over the age of 18 you can participate whether or not T-Mobile customers. Just by downloading the T-Mobile Money app for iOS or Android.

Also published on Medium.

Published inFintech
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