I set up an account with T-Mobile Money (Customers Bank) solely to take advantage of 4% interest on $3,000. The catch was to make a minimum $200 deposit each month. I transferred $3K in on Feb 1 (yup -- less than 3 weeks ago). I changed payroll automatic deposit to drop $200 in each month. Today (Feb 19) I get an email informing me that T-Mobile Money will be changing qualification for 4% interest from depositing a minimum of $200 per month (because, they state, that's too hard for customers to do -- NO, it's not) to using their debit card a minimum of ten qualifying purchases per month (now, THAT's difficult!) effective March 31, 2021. Bait and Switch. I'll see what happens in the next month or two -- do I get ANY 4% money? And then this account will go away and I'll do something else with my money. Beware of slippery terms and qualifying conditions with this bunch!
Yes, I understand the 4% is nice. But the services are terrible. I tried to transfer money out, received an email stating it was processed. It was not and they have no system to alert you to failed transfer.
So I called in. First person said I had transferred it, even though it is not at my bank and that my balance was never that high. I’m told there’s nothing I can do. I ask for a supervisor would said my best option was to use one of the checks sent to me. None sent and when I ask how to get them I was told THAT I NEEDED TO FIND A LOCAL PRINTER TO PRINT ANY CHECKS. In other words, I can’t write a check.
Terrible processes, untrained customer service representatives and left wondering where my money is. I pulled all my money out. This isn’t a bank, it’s an investment company. The 4% isn’t worth the hassle.
I have found this to be an excellent place to put money at a good return rate. Do what T-Mobile says by a monthly minimum deposit, build your account, and draw that good interest. There is no other bank that can match its return. I recommend this to everyone. Keep up the good work. Watch your savings grow. Check available. Debit card available. This works!
I was contacted by Tmobile wireless a week ago saying my bank emails were going to the wrong address. They reset my account using an extremely insecure method, which somehow unlinked my Tmobile money account. I have not had access to my Tmobile Money account since. I've been on the phone constantly with Tmobile money and they haven't even emailed me a statement for my records. I just want to get in touch with someone who can move money back to my original bank and close this account and I can't even do that. Writing this while I am on hold. Not surprised others have had problems with hackers/lost money. Customer service knows nothing and doesn't want to help even after they email your personal info to some random person and then mess up your login. Great interest rate, but is it worth being locked out of your account for 7+ days when you need your money?
To deposit into this account it is going to cost you 5.00 per cash transaction. Mobile check deposits are held a minimum of 4 business days, or you can mail your check in and it will be held for two business days. That is significant for a bank who raves about convenience.
You can direct deposit funds however don’t get your hopes up that you will be paid 2 days early like they advertise. Your employer typically instructs what date the funds will be made available, the bank held my paycheck until the date I would have been paid if I did not switch banks even though they saw the deposit pending 3 days prior.
The 4% interest rate does not cover the fee to deposit cash or the time you are not able to access funds. They even held back funds wired into my account!
Opened the account with T Mobile. Tried to deposit money but would come to a debit card activation page. Learned that you can't deposit funds until you receive and verify your debit card. Took 5 business days to get the debit card.
$3000 limit on all transactions initiated on T-Mobile. Any deposits initiated via T Mobile takes days to be credited.
No limits on transactions initiated from outside banks and are credited quickly.
NO joint ownership.
The app is a bit quirky.
Have to test doing withdrawals from my Chase checking account.
Not only is the bonus rate on the first $3,000(4%) unbelievable, but for amounts over $3,000 they have maintained their 1% rate, when most high interest banks pay half that. I've started sending all my banking money here as long as they maintain that rate.
I have had an account with T-Mobile since they opened checking account facilities. I have been a cell phone customer with them since 2005. I have never had any problems and always had very satisfactory customer assistance online and at any of their local facilities. The checking account offers a great interest rate up to $3000 and even over that amount. I really appreciate that especially in these trying times. If you just follow the rules established in order to maintain the checking account, there are not any problems. I have all my utilities and phone service direct payments sent and never had any problems. All payments have been made on time and confirmation emails sent to me. I really appreciate the fine service given and am going to deposit a higher amount based upon their prior service which has been extended to me. Thank you for your wonderful service.
I tried to deposit 1,378 into my bank at a ATM and the ATM ate the deposit. Well even WITH a receipt t mobile wouldn't help me saying I have to contact the other bank. Did that and just got the run around for 3 weeks. T mobile just says the same thing that they don't have any thing in their computers about it. I gave them everything on my receipt multiple times and now the receipt is illegible because of time, so now I'm definately not getting their help. They won't even reply to my message over the app. Well I've gone to the BBB and an ombudsmen hopefully they can help they got my 1000 back when paypal tried to steal from me. Forget this bank it's not worth the 4%. Funny thing is I can't even get the 4% because I don't have a phone with them.
I'm a simple person so I'm going to put this very simply, I use a Federal credit Union as my primary checking account so all of my experiences with T-Mobile money are based off of the stellar experience I have had at a Federal credit Union.
Transactions are not updated in real time and instead take multiple days. You could have five transactions on a Monday and check your balance on Tuesday and Wednesday and the amounts will be different each day because for some reason your transactions are not shown in real time and sometimes not even 24 hours after you make a transaction I find this unacceptable because with Federal credit Union my transactions are posted in real time.
I connected my credit union and T-Mobile money to transfer money from my credit union to T-Mobile money. while the money came out of my Federal credit Union immediately it has been four days and the money has still not posted to T-Mobile money yet. so not only is the money not in my primary bank account but it's also not in my T-Mobile money account so for 4 days I have been without the money that was used to transfer. I find this unacceptable and for this reason alone I will not be using this anymore.
This banker is a bunch of THIEVES!!!! Be ware !! I mailed in a check for over $10,000+ that was issued to me in my name and this bank has informed me that they could not deposit my check into my checking account and have since returned the check.... problem is they cannot provide the address of where they returned my check and they refuse to talk with me stating I use abusive language.... the nerve of T-Money! Then I was to have a replacement card issued because T-Money allowed an unauthorized transaction take place by way of scammers and $500 went missing from my checking account with very little hopes of having a successful transaction dispute! Now the replacement card can not be located and T-Money records show the card was mailed out 8/21/20 and today is 9/13/20 and T-Money can not verify what address they mailed my card to!!!! So now my $10,000+ check is lost along with my replacement debit card so now I cannot access the $1,397 I have in my checking account all while trying to survive during this pandemic!!!!! SHAMELESS BANKER THAT WILL TAKE YOUR MONEY AND DO NOT ANSWER ANY VALID QUESTION!!!!!! Your money is not safe dealing with these crooks
Tmobile money is a startup joke. Customer service reps have no knowledge and will only give you the standard party line response because they don't really know. Bank mobile will terminate accounts without prior notification or reason claiming they can do that per their terms of service. Strange thing to do to an account that was open less than 24 hours and had no money transactions......
beware. There are other digital banking solutions out there that are better, Don't fall for the golden carrot they are dangling.....
The minute you have any sort of question for customer service where they can't read from a script.... it's over. You will get nothing.
And their customer service is notably terrible. They are a bunch of teleworkers who talk to you distantly on speakerphone.... don't know ANYTHING beyond their script, and repeat themselves over and over.
There is not a legitimate escalation process. It's just multiple layers of script readers.
They basically don't care if your concern is addressed.
Worst bank ever. I have the bank with T-Mobile from the day it was first offered. I deposited a $2000 check, then they blocked all usage to my account for two weeks. I have spoken with a T-Mobile money specialist every day for a week. Their excuse is they're not sure they will receive the $2000, yet they've already received it. I even sent in screenshots of my other bank account showing the $2000 had already been deposited. Regretfully I had also set up a direct deposit. I was placed in the embarrassing situation where I had to call my landlord and explain why my rent would be late. My advice is, unless you can afford to go weeks without your money do not use T-Mobile money
I work for T-Mobile so naturally I opened a T-Mobile money account when I had gotten the chance. It wasn’t open for even a month, haven’t even set up direct deposit like I planned yet, before the T-Mobile money security team closed my account without reason. I’ve been calling the customer service number for a duration of nine months since my initial account was created in November and every time it’s the same answer. “Sorry, we have no information and can’t do a thing.” I’m basically shit out of luck and have no idea why. There’s absolutely no way to contact the security team to find out what the heck happened so I can fix it and I can’t create a new account at all. Horrible experience. Would not recommend. And I work for T-Mobile, I’m so very disappointed.
Not worth the effort since the 4% interest rate does not exist unless you have a T-Mobile Wireless Account.
I signed up and it was very quick and easy….perhaps because I once had a T-Mobile Wireless Account that I closed about 5 years ago???
I think anybody can open the account, but you will only get 1% interest unless you have a qualifying T-Mobile Wireless account. The fact that you need a T-Mobile Wireless PostPaid plan to qualify for the higher interest rate is cleverly disguised on their website.
I did not notice this until I tried to add $1000. into my new T-Mobile Money Account but could not? It kept saying that my deposit amount exceeded the daily limit? Right about where I entered my deposit amount it clearly states the daily limit is $3000. ?????
I contacted T-Mobile Money and was informed that because I was not a T-Mobile Wireless customer, I was limited to $300. Daily.
I am in the process now of removing all my money from T-Mobile Money and closing my account.
This is exactly why I closed my old T-Mobile Wireless account years ago….. Poor customer service, double talk and little hidden “Gotcha Clauses”
So, I applied for an account and was refused. They REFUSE to say why and attempting to find out is the same as running into a brick wall, but with worse outcome.
They say they DON'T have to provide information .. because. Simply, if you were refused, try again later, and see what happens.
So if there's a problem, or an error - you will NEVER be able to correct it.
Made a check deposit on Wednesday last week. 200 on Friday available. It’s now Tuesday when funds are to be available in the account. Waiting for then to clear the checks and make funds. Call and they tell me it should have been done already but it wouldn’t be available until tomorrow 7 days after deposit. Oh, and there’s no one who can do anything about it. It’s the system and they don’t have control over the system. What the hell are you here for then? Do not use them as a real bank. Just a back up and for the high return only. They suck.
I signed up with this bank 6 months ago, but started using it as my regular bank 4 months ago. No problems until a few days ago when they suddenly "restricted" my account with no explanation despite 3 phone calls and/or emails. Now I can't receive my direct deposit paycheck in the account and I can't use it to pay bills. Fortunately I have a backup account at a different bank. I would consider using this as a savings account like other reviewers suggested but I'm so fed up with this "bank", I will close out this account as soon as possible.
Horrible checking account. This bank may be ok to use as a set aside/savings but if you need your funds available within 2 or 3 days to live, pay bills, groceries, etc. you'll starve or have electricity cut off because they will hold deposit for over 10 days. Even a u.s. postal money order which by law is supposed to be posted the next business day. It is beyond ridiculous to hold usps money order that long. I certainty wouldn't trust them with any large deposit amounts and certainly wouldn't trust them with a direct deposit of my paycheck. If they will hijack a lousy $300.00 money order, which is almost like cash, for 10, 15, 30 days (and oh yeah, it says in their terms they can hold a deposit up to 60 days!) for their
own use to make money off your money I can only imagine the games they will play with large deposits.
Closing this account down immediately, I can't afford to have my money tied up for over 10 days. And customer service is a joke, don't even bother.
Deposits take a day longer to clear than other banks and they don't even show you how much is pending, only the total check amount is shown in your transactions and your have to wait 3 days it seems to clear, 2 full days to get the first $200. Every bill pay arrived late, check orders at Walmart kept getting cancelled until their support said I couldn't order from them with no caveats explained up front. You can't deposit cash into any ATM, period, and have weird out of the way places for free ATM's
So, I just have $100 of my pay every 2 weeks go there to meet the qualifications for the 4% interest and the rest go to my old Credit Union and am back using their checking and get to keep a separate debit card for my savings with T Mobile Money.
I opened this account at the end of Aug. So far I do not like it. I was drawn to it because of the 4.0 only to find the Max is 3k. Ok, so decided to use it as an escrow account. My major Complaints are I cannot connect this account to my main Bank USAA. USAA will not except their Routing number. I can connect to USAA from Mobile Money to Transfer money from my USAA account but not both ways or have to write myself a Check. No problem connecting from other Bank accounts. Thing is when Transferring money from my Accounts, or Depositing a Check into my T Mobile Money Account it is taking more than a week or Two to Credit my Money Account. That’s too Damn long.
Stick to a brick and mortar establishment! If an emergency were to happen, you need quick access to your funds. T Mobile Money, powered by Customers Bank offers a lucrative incentive to sign up of a whopping 4% apy, but ultimately, you end up paying for it in the long run. If you want to deposit money, you literally have to jump through several hoops. Customer service is poor and outsourced.
Not affiliated with T-Mobile, so you cant conduct transactions aside from paying your cellular bill.
My opinion? Not worth it.
T-Mobile Money gets YOUR money, puts a hold on your account claiming it’s under fraud review. When I contacted them (because no one ever let me know) to ask why my account was locked, the only answer I received was my account is being reviewed by their fraud department. The second representative that I spoke with claimed that T-Mobile had sent an email to my email address on file, which to this day I’ve not received. I was on vacation and had no warning my account would be locked for 5 days. I ended up stranded with -0- cents in my pocket, no money to purchase fuel, to buy food or finish enjoying my vacation.
I DO NOT and WILL NOT ever recommend T-Mobile Money Banking to anyone! Horrible customer service! Horrible experience and all because they chose to decide to lock my account. By the way, there were no fraudulent purchases or any other fraudulent activity on my account. Bottom line, there was no reason that my account should have been locked.
Do not sign up with Tmobile Money!!! If your card gets stolen or your account gets hacked, they DO NOT WANT TO GIVE YOUR MONEY BACK! THEY SAY 10 BUSINESS DAYS AND WHEN YOU SUBMIT PAPERWORK. DOES NOT MATTER THEY WILL STILL KEEP YOUR MONEY! ITS NOT WORTH THE HEADACHE! GO SOMEWHERE THAT WILL INSURE THE SAFETY OF YOUR MONEY.... NOT HERE!!!
I switched to this bank July 2019 because of the advertisement and I am accustomed to online banking. My nightmare started as soon as I started my journey. I made two attempts to deposit a state payroll check via mobile which were rejected because they claim they could not verify the check although the same information for my direct deposit request was on the check. I in turn deposited the check via mobile and it was available within 24 hours. Because I had already set my new bank up to pay bills I then transferred funds to the bank from another bank which I was later informed would be available in 4 business days. 24 days later and my nightmare is still in full effect. The funds that I externally transferred are still not available, Tmobile has not paid my major bills and my account remain in the negative. I have customer service several times and they have did what I have common sense to which is read line by line my transactions but they cannot tell me why all my Bill's presented have been returned unpaid with funds in the bank. This has been the most unfortunate experience that I have had with a bank. If it wasn't too late to stop the direct deposit for 7/35 and 7/29 I would close this account today but I plan to close it on 7/29 on e my funds hit the bank.
Deposited a small dollar amount check into my T-Mobile money account and they literally put a 10 business day hold on it and the whole point of this check was to pay off a credit card that my business partner had put charges on and here we are getting dinged by our credit card company now. I'd hate to see the hold they put on deposits on checks from my work....lesson learned for sure never again.
I've had T-Mobile Money for a couple of months and I decided to stop using it on a regular basis and use it at as a savings account especially with the 4% APY. I've called customer service a couple times and never had an issue with them; both calls were less than 10 minutes to help me. Loving this account, my APY is higher on T-Mobile Money then my actual savings account.
Stick to cellphones. The employees or clearly TMobile do not have a remote understanding of banking. It's as if a fast food company decided to open and run a 5 star restaurant with the notion - food service is food service, if I can run a drive through I can certainly do this. Customer service is awful. The employees do not seem to have a banking background. Again, I think TMobile felt they could take anyone and "teach" them to work in a banking support role - fail. Use it as a savings account is all I could suggest.
I just opened a T-Mobile Money Checking Account via online and it was fast and easy to do. I met all qualifications since I have been a cell phone customer since 2005. First with a flip phone then a smart phone. The site was easy to handle and once all verifications were made, the account was established. I deposited a small amount with the monthly requirement to be done on a regular basis. I received my "card' in the mail yesterday and verified it. I did make one phone call to T-Mobile Money and speak with a customer assistant to see if this can be used as a "debit card" with no fees incurred. I was told yes it can be used as such with no fees incurred but if cash was wanted it had to be at an Allpoint location. Further it was really nice to speak with someone who spoke clearly in ENGLISH. LOL I do not plan to actually use the card until the account becomes more established and then I might try it out at a HEB. I also do not plan to close my existing account with a local bank. I do like the advertised 4% interest rate and will see in a couple of months if it is paying as advertised. So far, so good. Am satisfied at present.