5G Technology World

  • 5G Technology and Engineering
  • Apps
  • Devices
  • IoT
  • RF
  • Radar
  • EE Learning Center
  • 5G Videos
  • Handbooks
    • 2022
    • 2021
  • Design Guides
    • WiFi & the IOT Design Guide
    • Microcontrollers Design Guide
    • State of the Art Inductors Design Guide
    • Power Electronics & Programmable Power

T-Mo Goes After Banking Fees with Mobile Money Product

By Andrew Berg | January 22, 2014

T-Mobile's personal finance service is without fees for T-Mobile customers.T-Mobile Wednesday announced a new side project with the launch of a personal finance and mobile payments service. 

The company calls the new project Mobile Money by T-Mobile. The service includes a combination of smartphone money management applications designed for use with a re-loadable T-Mobile Visa Prepaid Card. Users can load their account with funds and use it to pay for goods via the app or by using the physical payment card. T-Mobile is also offering up 43,000 ATMs from which customers can withdraw money. 

There is no minimum balance required or overdraft fees. Users can also depost checks directly from a smartphone. 

While the service is open to everyone, only T-Mobile customers can make transactions without having to pay fees. 

“We’ve already transformed how Americans use and pay for phones, tablets and wireless service; why stop there?” said CEO John Legere in a statement. “Millions of Americans pay outrageous fees to check cashers, payday lenders and other predatory businesses – just for the right to use their own money. Mobile Money shifts the balance of power for T-Mobile customers and keeps more money in their pockets.”

The service is on par with the one Boost Mobile’s Mobile Wallet service, which that company launched to service its customers who may not have traditional banking systems in place. 

Mike Sievert, chief marketing officer for T-Mobile, noted in a statement that the typical household using a check casher to cash their paychecks could save about $1,500 per year on fees.

“Customers tired of getting hit with overdraft fees can switch and save an average of $225 a year,” Sievert said. 

Starting today, individuals can register for a personalized T-Mobile Visa Prepaid Card. Cards will also be available in participating T-Mobile retail locations and beginning in February will be available in Safeway stores in the United States.

 

Related Articles Read More >

QoE and QoS comparison
Benchmarking in 5G: More important than ever
iPhone 12
I bought a 5G phone, now what?
Key takeaways from 6G Symposium
Apple Iphone 12 5G
Apple announces 5G phone, next please

Special Issue: 5G Handbook

Need 5G Technology World news in a minute?

We Deliver!
5G Technology World Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup

EE World Online Twitter

Tweets by @RandDWorld

EE TRAINING CENTER CLASSROOMS

EE Classrooms
5G Technology World
  • Enews Signup
  • Contact Us
  • EE World Online
  • DesignFast
  • EDABoard Forums
  • Electro-Tech-Online Forums
  • Microcontroller Tips
  • Analogic Tips
  • Connector Tips
  • Engineer’s Garage
  • Power Electronic Tips
  • Sensor Tips
  • Test and Measurement Tips
  • Wire & Cable Tips

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search 5G Technology World

  • 5G Technology and Engineering
  • Apps
  • Devices
  • IoT
  • RF
  • Radar
  • EE Learning Center
  • 5G Videos
  • Handbooks
    • 2022
    • 2021
  • Design Guides
    • WiFi & the IOT Design Guide
    • Microcontrollers Design Guide
    • State of the Art Inductors Design Guide
    • Power Electronics & Programmable Power