T-Mobile Launches Checking Accounts
T-Mobile is now offering its own branded checking accounts as a new offering called T-Mobile Money. The accounts bear no monthly, overdraft or transfer fees, and no ATM fees. Accounts earn 4% interest on the first $3,000. The product is digital-only and mobile-first, accessed primarily through a phone app. The debit card is compatible with Google Pay, Apple Pay, and Samsung Pay, although customers receive a physical debit card as well. It supports direct deposit, mobile deposit, bill payment, and customers can send checks. The product is created and operated by BankMobile, a division of Customers Bank (Member FDIC). BankMobile has over 2 million customers, mostly college students using a similar product offered in partnership with over 800 colleges and universities.
Nov 29, 2018
T-Mobile has rolled out a digital banking service called T-Mobile Money. T-Mobile says T-Mobile Money is available to T-Mobile customers as well as non-customers.
May 27, 2020
This summer, Samsung will launch Samsung Money by SoFi, a new financial product integrated with Samsung Pay. Like Apple Card, Samsung Money can be used as a payment method with the wallet app (Samsung Pay), the account is managed within the wallet app, and the product also includes a physical payment card.
Nov 18, 2020
Google today launched a major revamp of its Google Pay app with a new interface and several major new features. Instead of a stack of cards and list of transactions, the new interface centers around the people and businesses you exchange money with, with a conversation-style interface for each person, group, and business.
Jul 23, 2020
Samsung Pay users can now sign up for Samsung Money in the new Money tab of the Samsung Pay app. Samsung Money is a debit card linked to a dedicated cash management account (similar to a checking account).