5 star: | (5) | |
4 star: | (6) | |
3 star: | (6) | |
2 star: | (6) | |
1 star: | (38) |
I've been with Tmobile almost 5 years now and I just want to share my experience.
I would give 5 stars for customer service speediness, APR, and not having brick and mortar buildings...But that's it.
I would give 1 or maybe even a half a star for other things...
1) The app is very rarely correct on places that actually currently reload card funds. I have wasted time going to at least 5 stores that the app said could reload only to find out otherwise. On the flipside, I've reloaded funds at approximately 4 places that weren't mentioned or displayed on their location map?
2) They don't offer csv exports or bank connect for accounting programs! Are you kidding me?!? If I wasn't an excel guru I would be screwed! Fortunately for me I am, but I literally have to spend about 5-7 hours every year converting, parsing, organizing, adding and deleting columns and rows, drag and dropping 1 field of data to another, concatenating, transposing, etc,. But wait, there's more, I can only do that every year by paying for a pdf converter program like Adobe pdf converter ($45/mo). How does a bank not offer this export feature? It literally blows my mind. My accountant and QuickBooks program requires either 1) a bank connection (also not available from TMM) or 2) csv imports. I need a bank that after hearing their customer (me...and I'm sure others) complain about this issue, they fix it. This is my 5th year of hell when tax time rolls around. I definitely need something different. Their response every year is..."you can download the pdf....blah blah blah... Thanks for being our continued customer." Well I'm not going to be your "continued" customer if after 10+ requests they can't fix this major issue.
3) They have a crazy funds availability policy that sometimes can take up to a week to release funds over $225. I don't know about you but when I deposit $1000 on Friday (let's say 3pm PST) and I literally have to wait until Tuesday for ONLY $225 to be released...But then I have to wait another 3 days for the rest, making it Friday of the NEXT week until I can actually use my own money. It's crazy to me. And supremely frustrating.
All of the perks of 4% interest and mobile friendliness is overwritten in my opinion by the 3 negatives above. You can make your own decision.
T-Mobile Money pays great interest. Both the site and the mobile app have a clean UI.
Customer service is out of the country and read from scripts which is highly annoying. You cannot export your transactions. The transactions on the desktop site post out of chronological order and the company refuses to address this. The ability to link your account to financial tools is severely limited. The balance will update based on pending charges but the pending charges don't show up in a timely manner making it very difficult to reconcile a bank register.
This companys support is the most rude disrespectful employees I have ever saw. They will tell you lies just to soothe you over. They have $600.00. hostage and will not answer phone or hang up on me. I would not do any banking business with company
This is 100% Fraud , Somehow they were able to take money from my account and at that time I had $0 balance.
Its impossible to contact their fraud department. Its been 3 weeks and they explain to me where is my money.
Its a fraud connected to Bitcoins money laundering.
The good: the website has a clean look, with a good use of color and white space, i.e., it's not cluttered, and it's intuitive. Transactions between financial institutions are timely and excellent when both recognize each other's routing #s (see "bad" below).
The okay: interest rates were excellent a couple of years ago at their introductory 2.5% for an account of this type, but they have not adjusted upwards. Still, this is better than most competitors without requiring any hoops to jump through. Their 4.0% rate does require hoops, though, which I for one am unwilling to jump through, since they involve the use of debit cards.
The why not: unless this has changed in the past month, TMO Bank does not show the interest-to-date for your accounts, forcing you to add these numbers up month-by-month. However, recently they sent an email that tallied the first six months of interest, though it was likely on both my savings and checking account.
The bad: I have had at least a couple of my existing financial institutions not recognize TMO Bank's routing number, and if I insert the one for Customers Bank, that does not work, either. For connections where, instead, one is prompted to type in the name of the bank, this one is not found. Therefore, this should not be your only financial institution for checking and savings transactions, but for me it's been fine for 90% or so of them.
Frw weeks ago I would say they are awesome but ive been noticing something. Most recent. So I had transfered money into my account but when it cleared it did not apply. I called, mind you the money was no longer pending and they said it take 5 days to show on account. It showing as a credit and not pending so why is it not in my account? She says wait till Monday. Today is Monday, I subtract everything that I spend to what was in my account. There is over 100 missing. Not to mention the money that I transfered. They are definitely stealing. This will be a class action lawsuit soon. And the customer service is terrible also.
I received a text message stating fraud department flagged a charge. Was it mine i replied no.
Got a text back stating the locked my debit card. They gave me a case number and a phone number. I called the number and it rang then pickup with noone there. I waited and finally hung up. I didnt reconize the card number so i thought maybe it was one of those scams trying to get my bank info. Next morning i teceived a call. The caller iD showed "Fico". An automated system wanted me to verify address ss # and date of birth. Before talking to a live person. Definitely felt a scam. Later that day I checked my T Mobile account and realized it was T Mobile calling. I immediately called reported the fraud and filled out the form. They will not give a provisional credit fir 10 full business days. They let a second charge go through on a blocked card. When i talked to them it was pending. They could have blocked it but went ahead and let it go through.
Never in my life would I thought they would milk the 10 business day rule. I am sure they got their money back already but are holding off just because they can. Shame on T Mobile for putting there name on this bank.
the amount of time that they hold checks for mobile deposit is ridiculous I'm waiting 8 days now for a check to clear this day and age with the technology we have it should be instant that you know whether there's money for that check or not it's ridiculous they've been holding every check out deposit it has said in their bank for almost 8 days do not recommend them if you are interested in Mobile deposit
When I filled out a police report they said to never give out my date of birth, all my other financial services do not ask for this. They say 4 business days for transfer of funds but 5 days later not complete but it shows completely process on app, and my normal bank said they took it back on 6.9.2023
Don't waste your time with TMobile money ????????????
I called "Customer Service" and was told at the beginning of the call it would be a 10 minute wait (which is ridiculous!) to talk to someone. 32 MINUTES LATER I hung up. Also, the 4% APR they promise to pay after "10 qualifying transactions" is a JOKE! There are no "qualifying transactions!" Money transfers don't "qualify." ATM transactions don't "qualify." "Paying your friends" don't "qualify." Purchases don't "qualify." Whats left? TMoney is a JOKE!! Lying and ripping customers off is what TMobile has been exposed for in the past and it's clear they continue to do just that!!
They closed my account and sent me a check for the balance in my account. The check got returned by my other bank saying funds couldn’t be band don’t redeposit it. Went to a check cashing store and Walmart and they both said the check declined!!! WHERE ARE MY FUNDS!? I want my money now!!
I have a pretty large amount of money in my T-Mobile account, I get good returns off of it. Any dispute has been handled fairly and thoroughly. I do agree about the fact that it's hard to get the money out and the limits are kind of stupid but other than that it's not been too bad
Had my account hacked and money stolen. I notified bank that the pending charges were fraudulent and to not let them go through. Bank rep said they needed the funds to actually be stolen out of my account before they could do anything. One day later, funds were stolen and I was able to report the theft. They said they would need to investigate and it would take three months. I wouldn't be able to use my money during investigation. They said they would issue a temporary credit to my account of the stolen funds in about three weeks. Bullshit. It's thousands of dollars and it's gone. Do not trust this fintech with your money. BMTis like cryptocurrencies and bitcoin. People can steal your actual money and you have no recourse.
T mobile money is nothing but a bunch of crooks that i will do everything in my power to see the whole company all the way down to the janitor in prison if you open a account there going to lock up your account for fraud investigation you want be able to get in touch with anyone and while there holding on to the money i work my ass off for my daughter is hungry asking me what are we going to eat when i do get my money back im probably taking a trip to the home office of crooks who by the way can eat a hot meal while they watch a child starve i just really would like to introduce myself to the men and women that runs this highly illegal operation and my daughter can see what kind off scum life throws at you at times if you want to keep your money do not use these low life trash that i hope for gods sake they go to prison
I am a US senior citizen, which means very little any longer, but I digress. ON FAITH, I trusted what was touted as a “bank” that pays interest, has no fees, and gets your “paychecks” 2 days earlier for you. The plan, for me, was to have a widely accepted debit card for my travels, be able to shop in my state on days other than “social security day,” have an account separate from my household account for gifting, medications, etc. After following all the requirements for setting up a “verified bank account” for “transfers in” on a Monday, I slipped $400 over to use the card for visiting family for an upcoming long weekend. It is now THURSDAY and my funds aren’t available! There seems to be NO WAY to have them add them, according to them, for my use, even though the funds have been withdrawn from my “verified bank account” and are listed as “posted” to my new TM$ account. Don’t let that fool you, “posted.” In this VERY OBSCURE AREA, you are told to bring up in the app, it’s listed as “PENDING.” Pending WHAT? Couldn’t be explained except “processing.” THANK MY LORD AND SAVIOR I hadn’t yet placed my social security check into their direct deposit section! From other comments on this blog, that seems to be a HORRIBLE NIGHTMARE! Evidence of locking down accounts, 2 months without pays, inappropriate/absent/untimely reimbursements for dissatisfied customers who closed their accounts because of frustration/fraudulent activity, no customer service to speak of (and when you ARE able to reach them, you can but barely understand them, sorry to say), and holding funds hostage leaving the customer without recourse, are ALL posted within this blog! I’ve been with my present bank for 26 years. I am treated with respect, assisted completely at every turn, have a low interest 2nd mortgage for home repairs about paid off, and suffer very few fees. I’ll get to my $400 one way or another and close TM$ SO FAST, my phone will catch fire! ??
BIGGEST SCAM EVER!
DO NOT BANK WITH T-MOBILE MONEY!
Within one week, they restricted my account TWICE. The first time was to submit proof of ownership of my M&T BANK account and the second time they didn't even give me a reason for the restriction. After making some noice and demanding to speak with someone, this CUNT of an "employee" ( the same trash that I spoke with the first time, in regards to providing proof of my M&T account) MIND YOU - this "employee" spoke to me as if I was a criminal, fraudulent stealing funds from M&T and transferring them to my T-mobile Money account, called to let me know that they were closing my account and would be sending me a check... oh NO THE FUCK YOU WONT. I then told her to transfer me to her Superior and the CUNT disconnected the line!
I have had my case "escalated to the executives" and I am currently waiting to be contacted in reference to my account being reinstated. While I wait, I am reporting T-mobile Money to the BBB. I am also reporting the employee to everyone and anyone I can!
T-mobile MONEY is a COMPLETE JOKE! DO NOT BUY INTO IT! I have had my lawyer beginning paperwork or filing a civil suit against T-MOBILE MONEY and I advise anyone who is dealing with the shit show of a scam to do the same!
DO NOT TAKE THEIR SHIT LAYING DOWN! IT IS ILLEGAL FOR THEM TO HOLD YOUR FINANCES AND NOT PROVIDE A LEGIT REASON AS PROOF!
I had a fraudulent transaction take place on my account amounting to 1600$. T Money failed to identify it and allowed it to go through. Strike 1. Following this they lock the account and send a new card out as you would imagine. They then restrict the account without notifying me in anyway and my next paycheck hits the account and I cannot activate my new card or ACH out. For the next 3 weeks i am fighting to get my 5200$ back with no luck. I still have not gotten my last two paychecks back at this point and we are going on two months now that I have not had access to my account. They said two weeks ago the account would be closed and a check sent out for my balance and that has not happened. Their customer service is 110% useless and has no idea what they are doing. I would only recommend this bank if you like getting ripped off. 1 star is too high of a rating for T Money and I work for T-Mobile!!!!
I deposit a check for $350.35 10 minutes later call T-Mobile money to cancel stop payment on the check I was told that the check went post for 4 days anyway and if I put a stop payment on it don't worry because I won't be credit cuz T-Mobile do not credit you the funds until after it clears through the bank well apparently they sent the check through and it came back like 6 days later okay this was October 5th October 11th the check came back noted that the account was never credited to 350 dollars from the bank or from T-Mobile Money but all of a sudden I get a negative balance on my account ffrom T-Mobile Money that was never entered into my account wow T-Mobile Money what a fraud ?? The only thing on the account shows the date of deposit on October 5,2022 There's no noted of crediting the account since
Terrible!! No customer service. They hold your money hostage. Fraud. Scam. Don’t waist your time. Thieves.
I started banking with T-Mobile money when it first became available. At first I loved it! At first I could tell if I kept at least $200 a month in my account I did get (slightly lower than) 4%. And things seemed pretty smooth sailing even though I could not connect basically any service that connected my bank account online and very few places would accept the routing and account number at first. So it was basically just an ATM card I didn't even have any "starter checks". It basically 100% depended on you going into a CVS or somewhere (that not all of them actually participated as advertised or listed on the map) that used Green Dot I believe? Or you could buy checks, download deposit slips/tax forms, and send things through postal mail. No way! Honestly, doing things electronically with T-Mobile money takes a lot longer than 5 to 10 business days and they don't process anything over the weekends so Monday you get slammed with a whole bunch of craziness that did not come through and you can't even see until Monday and sometimes not even Monday! They changed the 4% qualifications to now you have to have 10 qualifying purchases. Plus don't expect that that percent is just going to be off of your balance BECAUSE they do some gymnastics that makes it never quite 4%. The supposed 24-hour support is severely lacking these individuals are not only unintelligent... But also usually unwilling to help. Your account is not completely detailed heaven forbid anything happens like a fraudulent charge! It stinks because I really did like this bank account now I have to look into not only possibly finding another one but also taking legal action now?!?! Because they're holding my documents hostage!? What kind of Bank does that? And then the access to online banking is severely limited they just now started making it so we could get online using a web browser it was limited completely to the app previously! I will add the online interface is more detailed and easier to navigate. But this entire T-Mobile "experience" banking and otherwise has really made me consider leaving the company all together through every platform. Of course years of LIMITED Banking options... Years of waiting on empty promises, ONLY to not see it get better... ONLY to not be able to complete simple tasks like receiving proper requested documentation when my account details are stolen by the hospital staff while I'm under anesthesia!?!? Definitely, worrisome. And then they act like while I'm sitting there with my jaw resected that I didn't get on the phone with them quick enough! I was 4 hours out of anesthesia when I got on the phone with and recorded the conversation! With this girl who you can barely understand from the fraud department that honestly I did not trust BECAUSE it sounded more like a Spam call! But I went through the charges one of them was actually on my account (over a week after the phone call) I have a screenshot! And I called up because it was still on my account AFTER I verified all the fraudulent charges, changed my bank card, and EVERYTHING! Plus I revoked and have verification that it was revoked both from the company and from T-Mobile money and automated clearing House auto pay withdrawal... Not only did T-Mobile money allow it AGAIN in May! But it's still on my account even though the company verified it was sent back and cleared on the 19th! I've been through this before I won't get it until the 1st so it doesn't need to be included in the 4%! So my bills are being held up for no reason! This is not the first time they did it before on a check that was pending for over 10 business days just to push it past the end of the month! They actually said it to me on the phone yesterday I have it recorded. Now I STILL don't have access to my money I was promised I would get back "because the charge would immediately be reversed, since they were unable to stop the transaction" which it was. T-Mobile money is just holding on to it. I just did not get ANYTHING yet and it's been about seven business days? Every time I call up the specialist told me to wait AND if I do what they tell me and be patient... And wait some more. Then I'll get the same thing I got today about the fraudulent activity... Because they called 7:00 p.m. on Memorial Day today... That "by the time I called this is all they had from the fraud department". No information on the charge that was there and then disappeared from my account (that I have screenshots of and recordings of me on the phone with them regarding)! No list ONLY one of the four charges that were listed out to me... Only two of the multiple charges I had to verify multiple times in order to re-access my account. All mysteriously missing in the documents I had to beg for over a month to get! And she was so condescending in basically telling me "it was my fault" and I don't have access to my own banking records I guess? I guess I have to go through all of the legal terms and look into arbitration or something? I don't know what my options are here, yet. BUT this service has become dismal at best! They never had good customer service, ever. I personally referred so many people! I promoted this through my social media platforms! I adored this until they basically made it go from... New and slightly inconvenient to basically a pain in the neck! And I'm pretty sure not completely legal the way it's being handled. They make it sound real good "on paper" when the reality is something completely different all together.
I deposited money from my bank by transferring funds from my account to TMOBILE MONEY. of course it took 4 days for it to be deposited in my account but then I tried transferring some money from my TMOBILE MONEY account to my other bank and TMOBILE MONEY gave an error. I tried different amounts and to no avail. Support escalated the problem to there team and was told to stay by my phone because someone would be calling about this matter. NOTHING!
I called back 24 hours later, tried to transfer money, again no transfer and the agent said I would get a call by the end of the day.
NOT HAPPY AT ALL WITH THIS SERVICE!!!
I deposited only $100.00 to try the bank and my check was declined. I got an email it was declined due to signature. But yes i endorsed the check in the back. Then I called and hold for the supervisor who recommended me to re deposit it. Why should I do the same sh thing more than once? I am going to delete my account and that's all. That bank cannot be trusted. I am reading the reviews and adding mine.
Will go later to BBB, Google, Yelp, Twitter and Facebook to express my frustration with that bank.
I especially opened an account to be able to benefit from the international ATM fees but now that they do not recognize my check and I had to re deposit, I am going to cancel. Also the negative reviews are too numerous to keep that account alive.
MY ACCOUNT IS NOW CLOSED. IT WAS A GOD SIGN THAT MY CHECK WAS DECLINED FOR NO REASON AND I DECIDED NOT TO RE DEPOSIT IT. I AM MOVING FORWARD.
Let me start by saying that I have thankfully not had an issue w/ T-Mobile Money so far. I'm able to easily move money into and out of the account from various external banks and brokerages that I connected via ACH deposits.
The large number of problematic reviews had me worried as I've started to use this account more in the recent month. Again, no problems yet but I remain much more concerned than with more traditional banks.
Banks are highly regulated and have many avenues in place to address problems. These problems have plenty of additional places to hide when your "bank" is actually being run by three separate companies: T-Mobile, BM Technologies, and whichever FDIC Insured actual bank is handling the funds.
Additionally, these pseudo-banks have annoyingly arbitrary "rules" that I'm sure a traditional bank could impose but typically don't. For example, I use external accounts to move money in and out of T-Mobile because they have some goofy $3,000 limit with worse fund settlement timing (i.e. if I push the money in it's available and earning interest the next day, if I pull via T-Mobile it'll be 3-5 days before this happens). A different bank in this category has the audacity to impose this limit on funds from external institutions and actually rejected the transfer when I tried to deposit too much. T-Mobile doesn't do this yet but any limits, internal or external, vastly decrease the value and trust one can have w/ their bank.
In general customer service is a joke in this country. You will _never_ be called back and your issue will dangle until you put in the time (taken out of your life/work because of course those are the only hours they're available) to resolve it. My highest marks are reserved for banks where I never have to use customer service or in the rare case where I do and they're actually helpful and competent.
I have not been able to see my account in weeks. I cannot know the balance. I cannot spend my money. No matter what computer, browser, or phone app I use, TMobile will not allow me to log on. When I call, they tell me everything should be working, then say they will have tech support call me. I've called 4 times and tech support has never called me back. In my world that is the same as stealing my money which is well over $100K.
Made a small deposit, and it took over a WEEK for it to be available for use. Way too long for it to be valuable.
Moving money between accounts with T-Mobile Money has always been inconvenient because of the account's $3,000/day transfer limit. However, the past two days, my daily transfer limit has been limited to $300/day which, for me, is a deal breaker. I contacted customer service and received the following reply:
hank you for contacting T-Mobile MONEY, we are happy to assist you.
"BM Technologies, Inc. places limits on the dollar amounts of both outgoing and incoming external transfers that you originate through the Service. While not generally the case, internal and external transfers may be limited to as little as $300 in aggregate under certain circumstances. Certain limits also may be imposed on the frequency of outgoing and incoming external transfers or they may be altogether prohibited. These limits may change at our discretion, may be implemented without prior notice, and are not disclosed in detail for security reasons. Limits are based on the aggregate amount of both checking and savings.
We appreciate your business and thank you for being a valued customer. If you need additional assistance, T-Mobile MONEY Specialists are available 365 days/year from 8AM - 12AM ET. Please dial **MONEY from your T-Mobile phone or call 866-686-9358. If you’re calling from outside of the United States, dial 414-751-6700."
This makes the account virtually unuseable. I wonder what is really going on. I will be moving my money out ASAP.
Yes, as other have noted it is hard to move money in and out from within the T-Mobile account. Also people should be aware that no beneficiaries or trusts are allowed (for unknown reason - may be because it is not a real bank but rather a partner of Customers Bank).
Just an FYI. I opened a savings account at T-mobile. Instead of going through the trial deposit thing to link it to my primary account, I transferred a large sum to my T mobile checking. I went to do an internal transfer of the funds from checking to savings and the limit was $10,000.
I think they are moving to another bank?
So far I haven't had any problems with them. I don't do the 10 ATM charges as it's just not worth the hassle for an extra $10 a month.
This what they sent by email today.
As of today, January 26, 2022, we would like to let you know that on February 26, 2022, we are making some changes to our terms and conditions that will apply to your account. There is no action needed from you, but if you’d like to learn more about these updates, please see below for more details.
What you’ll see in the updated terms
T-Mobile MONEY Web and Mobile Services User Agreement
The following content has been added under the existing header “Relationship between You and BM Technologies, Inc.”:
Effective 2/26/2022: You further authorize BM Technologies, Inc., as your agent, after reasonable notice has been provided to you and without any further consent, to direct the FDIC-insured depository institution then holding your deposit account to transfer your deposit account and all of such depository institution's related obligations and responsibilities to an assuming FDIC-insured depository institution designated by BM Technologies, Inc. However, this authorization in no way impedes your ability to request the closure of your account if such a transfer of holding financial institutions is not acceptable to you.
Account Terms and Conditions and Related Disclosures
The following content has been added under the “Transfer of Account Balance to BM Technologies, Inc.; Other Transfer”: Effective 2/26/2022: You hereby appoint BM Technologies, Inc. as your agent for purposes of any deposit Account you may open. You specifically authorize the Bank, at the direction of BM Technologies, Inc., to transfer the full balance of the Account to BM Technologies, Inc., as your agent, so as to permit BM Technologies, Inc. to place such balance with another Federal Deposit Insurance Corporation ("FDIC")-insured depository institution. You also authorize the Bank to transfer any Account balance directly to a successor FDIC-insured depository institution as designated by BM Technologies, Inc. without any further consent on your part. Upon any such transfer, the Bank's obligations and responsibilities with regard to you and your Account shall cease, and this Agreement shall terminate.
Should you have any questions or concerns regarding this action, T-Mobile MONEY Specialists are standing by 8AM-12AM ET daily. Please dial **MONEY from your T-Mobile phone or call 866-686-9358. If you’re calling from outside of the United States, dial 414-751-6700.
Thank you,
T-Mobile MONEY
https://www.t-mobilemoney.com/en/terms.html
I have been a T mobile phone customer for a good four years now and decided to try T mobile money which has now been the worst mistake of my life. I was negative $49.48 in my account so decided to try to do an external transfer from my PNC bank account of $100.00. On the T mobile money app it showed the $100.00 was posted and processed in my ledger but it did not reflect on my balance. So I reached out to a money specialist on the app that told me it wasn't actually processed yet and to give it a couple more days. About an hour later I check it again and they debited the $100.00 out of my account even though it was never processed and this time it does reflect on my balance and now showing I'm negative $149.48 which is incorrect. The never actually posted the $100 to my account but they took it out anyways putting me more in the negative. I have repeatedly try to talk to someone about this but no one will fix my balance back to negative $49.48. I even spoke to a supervisor yesterday who manually calculated it and agreed with me the balance should only be negative $49.48. She said she escalated it and to give it a couple hours. It's now been well over 24 hours and my balance is still not fixed. I have money being deposited on Tuesday which means I will be out a hundred dollars because they're being fraudulent and won't correct my balance back to what it's supposed to be. If it is not fixed by Monday I will be contacting an attorney due to their fraudulent activity as well as canceling my phone services with them.
This is not a great way to treat a loyal T-Mobile customer. I tried call this number and all I got was that my account has been closed because of "safety reasons". All I have done is tried to connect one of my checking accounts that I have had for almost 10 years to this T-Mobile Money account. I literally opened the account at 6 45 pm and I had an email by 6 30 am next morning that you closed the account. It does not make since. And I am very frustrated. I got an voicemail earlier this evening stating that you have been trying to get a hold of me today, I do see one missed call that I couldn't take at the time it came. But it sounds like I would have been told the same thing I heard tonight when I called in. I'm not sure why this is happening. I have been a loyal T-Mobile customer for over 20 years. Doesn't seem like I great way, or professional way to treat any customer, let alone one that has used your other services for so long..
Tmobile closed my account due to someone got access to my account. They closed the account back on October 20 and today is November 12 and still haven't received my check. I keep calling everyday and the tell me they have a ticket open waiting for resolution, but I'm almost a month without my money. I do no recommend this online bank. I will contact best business beureu.
I opened an account in August when TMobile took over Sprint. I never used the account and they closed it in October. When I called, they never gave me a reason except security determined to close the account. Not for (lack of) use, not for fraud concerns, not for credit, which would be stupid for a deposit account. No one would say why it was cancelled.
Don't ever think you can do a password reset in less than 24hrs!
Despite following TMO instructions, talking to a rep for 30min, responding to 3 authorization codes correctly, and another 10min with a supervisor, you must wait 24hrs for a reset "because that's the way our systems work".
If the systems eventually do allow it, our money is leaving ASAP!
This is not a bank.. it's a phone company pretending to be a bank.
Adios
This is the highest interest yield I've been able to find. I've had my account there for around 2 years without any issues. I received my debit card immediately, and have had zero issues with transfers or access. Customer service is responsive via the internal messaging system, which I love because I really hate having to call an 800 line.
It was time for a new for part if the lure of the card was the interest rate which was 4% maxing out at 3k deposit after its 1% and a minimum purchase required. It's not very useful to be perfectly honest. Now I keeped a tmobile account active for years but I got tiered of tmobile plan and simple. What I pulled the plug I also went to sign on to my account and to my surprise it's looked up and no way into it until a real rep reaches out to you well my friends this was a week ago and I have no way to transfer funds everytime I call customer service I have to go tell these untrained people the whole story and they think they can do something the previous reps couldn't. That is a chuckle because they tail tuck it and start to get Whinny on me. If you happen to read this make sure you totally understand what your about to undertake. Other then that The card was working fine I didn't ever have problems with the pink and black little card.
I’ve been dealing with this issue for two months I still have not gotten my debit card and t! I get a direct deposit in there. And I’m not able touch my funds! The instant transfers do not work! Customer service is horrible the whole entire set up is scam!!!!! This has put me through so much this will be my 3rd deposit I’m not able to touch . From the bottom of my heart do not open an account with them . I never write reviews ever but I wish this on no one! This is no fair
First let me say i thought TMobile money would be similiar to chime but boy was i wrong. My son set up account areange for check to be direct deposited and 6 weeks later they have his paychecks and he still has no debit card to access his money. You call cystomer service they tell you set up paypal or google pay to get it since theres some delay on cards being made. He does that which takes 4 days because reminder he dont have his card. Only a routing number and account number. So finally gets that does a test run to send his das money on paypal....and its been pending for a day and still waiting. Mind you 5 phone calls into this he still hasnt had access to a few weeks of his paychecks. How is this even legal FDIC????????? This company is holding peoples money making a profit on that money while their customers cant buy a pack of gum....enough this company needs to be sued.
DO NOT USE THIS SERVICE. They are crooks and it takes 4 days to transfer money to Cash App. Almost a month ago disputed an $8 charge on my card. The customer service did not even tell me she was canceling my card. Then after almost 2 weeks I called about my card bc I could not utilize my account to pay a bill or buy groceries or anything. I still have no card and now my account is restricted and I do not see how they can allow an incoming deposit but will not allow me to withdraw my money bc I have no pending transactions, no automatic payments and I owe no overdraft fees . I have had my 2 cars repoed bc I could not pay the bill bc of this crook of a company and can not buy groceries diapers or medicines for my children and grandchildren. I ask for my money to be transfered to another account t and they can't do that they said.
Made a deposit with a totally legitimate check. They said I would have to wait four days for the check to clear. 30 minutes later they reject the check and say they could not reach the writer of the check by phone. One try. If they are going to hold funds anyway, why call the issuer? Not user friendly.
I will keep a minimum on my account for emergencies only when I travel and cannot find a bank where I have deposits. But, nothing more than that.
And, the changed how the 4% is earned in the middle of the game. They really don't care.
Set up account, waited 2 weeks still no debit card, how am I supposed to make 10 purchases a month without a debit card, made a check deposit with my phone, it was accepted, 3 days no money in my account, terrible bank, messages them that I’m deaf and can’t call and no response, stay far away from this bank
On Thursday August 5, 2021 I tried to log onto my online account. And to my surprise there was a restriction on my checking account. I called the bank and was informed that T-Mobile Money put a hold on my account because they suspected fraud. So after I confirm the transaction and online bill pay I set up, they said that it was being investigated. It is now Tuesday, and I still do not have access to my money. I have called and of course was told that there is no one in the fraud department to answer the calls. What should I do
Language on website is that used by financial institutions running applicants through a hard pull--not just for borrowers but depositors. Which should never be necessary except when applying for credit. Hard pulls lower credit scores and prevent banks such as Chase from extending future bonuses. They are also used by fintechs to capture and resell sensitive personal data after declining most applicants for good deals dangled before the unwary. Telcos now run hard pulls against communications applicants ("postpaid") so you can figure this one out easily.
You get 1% APY without doing anything, which is twice compared to any other savings accounts out there and it is a checking account, so you can write checks as well! If you have T-mobile wireless service you can get 4% APY on the first $3000 by doing 10 debit card transactions.
There are some drawbacks like no physical location and $3000 transfer limit when initiated from T-mobile MONEY. But you can work-around by initiating the transfer from an external bank. You only get 3 free checks, so you will have to order you own checks. I usually order from walmartchecks.com they are the cheapest.
T-mobile has basically allocated some of their wireless customer service staff to this checking account, so they don't have in-depth knowledge of the account. You won't get anything more out by calling the customer service than referring to the FAQ on the website.
They currently also don't support listing a beneficiary. This is my biggest hold back from depositing a large amount. Otherwise I would really like to use it as my main account to get the 1% interest rate on all my savings.
This is a terrible option for a primary checking account and probably shouldn’t be relied on as a transactional account at all. There are a bunch of pitfalls including limitations on transfers originated from the account, no ability to deposit cash (without fees), long holds on deposits, unusually stringent anti-fraud measures and effectively zero customer service.
If you have experience in the high-interest checking/bank account bonus game and have cash you won’t need regular access to you can make it work, it does for me.
My biggest complaint is the lack of Mint integration which is a substantial hassle but ultimately outweighed by this high interest rate, even if you’re not able to take advantage of the higher tier on your first $3k.
They have tied up funds in my account for charges on Amazon which I have contacted Amazon.. they wrote a letter stating that there are no pending transactions. I submitted the letter to TMobile and they still won't take the pending transaction money off. They have tide up my money cash for 10 days!! That's called usage of cash.. not just floating which I'm sure is illegal. Not sure what they think they are doing but as a consumer don't use there shady bank.
Tmobile money states that they can't see information regarding your deposits. Every veteran got paid on the Friday before memorial day. Its June 1 2021 and I just called to see why my money hasn't posted yet. Same thing and it was a supervisor who told me that if they were processed correctly that they will post to your account. It's disability and they don't give two ***** if they inconvenience you or not. I have had them to hold money for my bills on autopay. Post transactions two weeks later to my account but the creditor had already received the funds two weeks earlier. THE SUPERVISOR DON'T FIND ANSWERS THAT YOU NEED. I am a veteran but never treated like one!!!!!!
Many of you are enjoying the 1%. Continue to do so but with the understanding you’ll need an exit strategy if and when the rate is reduced. Take a realistic look at what has happened to your other reward checking accounts. There is no magical formula that isolates T-Mobile Money from economic reality. Again, savor the moment but be ready to transfer out and have a new home already in place where your funds will go. And act quickly, lots of funds from lots of customers leaving all at once can have its consequences.
As much as i wanted to open with them and earn a higher interest, there are just to many issue with the site. So i stayed away. I will take a nice credit union that runs and has no issues and accept a lower payout for the security
i just got my stimulus check and they cannot deposit into the account cus they need 4 business day my old bank just to make the deposit in less then 30 min
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!
Help help help Where in the world do I cash one of these T-Mobile money checks from it looks like it says bank mobile underneath the part where you put how much it is or whatever, I would really like to know because I don’t never see any kind of checks like these and I just wondered if Walmart customer service with cash app someone please answer please
Since switching to Tmobile as a cell provider I've had nothing but positive experience and saved on my monthly bill. So I was incredulous that Tmobile could also offer rates that were the highest FDIC insured in the country - easily 8 times what any other institutions pay - but that's exactly what I've been getting since July of 2020. Free bill pay. Zero fees that I've encountered. A debit card. What's NOT to love?!? I think it's the best kept, small-time investor secret on the planet!
My complaints are few and I've had only one hiccup making deposits, transferring money out, and using bill pay. One recent bill pay didn't go through, but that might have been an issue on my end as I just recently set up the provider and transaction. The other 6 reoccurring transactions to providers have gone through just fine.
One caveat is that it takes a bit longer than typical for transfers to go through if initiated on the T-mobile side. About twice as long. I don't remember actually if transfers initiated from an outside institution have the same delay, but if not, this would be the solution to that hiccup. Even if that delay still exists? It's a small price to pay for such an unheard of, outstanding interest rate.
Another caveat is that in order to earn the 4% rate you have to make a deposit of at least $200 on a monthly basis in order to get this top tier rate. But Tmobile provides automated reoccurring deposits or direct deposit to help in that direction too. Or you can initiate the same from an external account from your outside institution. Since opening my account? I've never missed the 4% rate. Outstanding!
The high interest rate is limited to a balance of $3,000 or under. Rather than being an issue for me I see that as a bonus, especially for those of us who don't have that much money to throw around. Again, park that money elsewhere? You only get a fraction of that interest rate - you make beans actually - I think the next closest offered has been an AMEX savings account at a measly 1%? Hardly worth the effort if all you have is chump change in the account.
I've communicated to customer service twice through the mobile app add received two courteous and timely responses. Speaking of the app - I think it too, is outstanding. Simple, easy on the eyes - gets basic transactions done in a flash.
This account has totally changed my spending and saving thinking too. Here's a recent example. I'm considering purchasing a newer vehicle and in order to lower my monthly payment I was thinking of fronting $3,000 on the purchase. I can finance the vehicle at an attractive 2.89% interest rate. But wait...if I can take that same $3k and EARN 4% at Tmobile why the heck would I pay down the loan when I can make 1% plus otherwise on the difference?!?
I couldn't be much happier with my experience and especially my returns at Tmobile money!
If you can accept these two caveats, here is why this bank is for you
* Funds held between 5-10 days (5 business days is my experience, YMMV)
* No Wire Transfer setup; Per terms of agreement: T-Mobile MONEY is a digital-only account. This means that there are no branches or physical locations in which we can service your account or accept deposits in person. In addition, we do not provide outgoing wire transfer services at this time.
If these two caveats are a deal breaker for you (and believe me, I hear you), do not open a T-Mobile Money Account.
Now if you have the mentality of using this like a CD, where you should not intend on touching these funds...maybe just a little though, this could be a great account for you. Just say "My Funds Are Not Liquid". Easy like an enema. Blah.
So why four stars? Well I'm unable to give 3.5 so like America, we round up. I like the 4% rate giving $120 max back on $3,000 cap. I also like if you push this account to the FDIC max you are looking at $2,590. There are better ways to earn interest but this is a heavily reduced risk way since the account is insured.
Transferring funds can be a bit of a kerfuffle. Money in takes between 5-10 days. Taking money out you can purchase checks or use the debt card.
When closing the account you can write a check and wait for the money to fund in the new account or contact Customer Support (web) and they respond within 1 business day
Think of it like this; when your money is in a low interest bank, the money is hiring the crew to give you support. When your money moves to a high interest bank, you may find it's more of a DIY bank.
Think about what kind of person you are; does the money need to be liquid or not. If you can say "My Funds Are Not Liquid" and accept this logic, this is the right low risk way to earn up a bit of change.
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?