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.
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.
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.
|FDIC Certificate #||34444|
|Return on Assets - YTD||0.22%|
|Return on Equity - YTD||2.34%|
|Annual Interest Income||$125.3MM|
|Assets and Liabilities|
|Assets||Q1 2020vs Q1 2019||$12.01B$10.13B|
|Loans||Q1 2020vs Q1 2019||$10.17B$8.70B|
|Deposits||Q1 2020vs Q1 2019||$8.49B$7.45B|
|Equity Capital||Q1 2020vs Q1 2019||$1.08B$1.07B|
|Loan Loss Allowance||Q1 2020vs Q1 2019||$149.3MM$43.7MM|
|Unbacked Noncurrent Loans||Q1 2020vs Q1 2019||$52.6MM$25.0MM|
|Real Estate Owned||Q1 2020vs Q1 2019||$131.00K$976.00K|
Always verify rates and promotions with the bank or credit union. We are not T-Mobile Money; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
|APY||MIN||MAX||ACCOUNT NAME||VIEW DETAILS|
|4.00%*||-||$3k||Checking Account - Qualifying|
|OTHER TIERS: 1.00% → $3k+|
T-Mobile Money is an Internet only bank and does not have branch locations. Its headquarters is located at 12920 Se 38th St. - Bellevue, WA 98006