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T-Mobile Intros Mobile Money Service

Jan 22, 2014, 8:06 AM by Eric M. Zeman

T-Mobile today announced Mobile Money, a new program that is meant to help consumers avoid costly fees often associated with banking. The program encompasses a re-loadable T-Mobile Visa prepaid debit card that drops the cost of accessing and using money. T-Mobile customers won't pay to activate the card, won't pay monthly maintenance fees, won't pay withdrawal fees at 42,000 in-network ATMs, and won't pay to replace lost or stolen cards. Mobile Money doesn't have a required minimum balance, doesn't charge overdraft fees, and can be used with direct depositing and phone-based check-cashing services. The card can be used to make purchases anywhere Visa is accepted. T-Mobile's Mobile Money card and service will be available in T-Mobile and Safeway stores beginning next month.

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Comments

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This forum is closed.

KOL4420

Jan 22, 2014, 12:15 PM

Nice.

Tackling the pre paid card business now. No more Fees for using a bank card 😁

brad162

Meh if it brings them extra revenue to put into the network, i'm all for it. Although i'm quite happy with my BofA/Fidelity setup currently i'm sure it'll work for some people.

tzsm98

This could be a real help to the "unbanked" folks among us. Being able to keep an entire paycheck instead of having to pay to get it cashed will be significant for those on minimum wage or near minimum wage incomes. Good way to build customer loyalty....
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