T-Mobile Money

Deposits held and insured by Customers Bank

Overview / Commentary
12920 Se 38th St.
Bellevue, WA 98006
Deposits held and insured by Customers Bank

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Excellent Service

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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!

Great Bank Account

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.

OK But Has Warts

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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.

Nothing About This Bank Is Good

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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!



Data as of Q3 2020

Data displayed below is for insuring bank: Customers Bank
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Health Grade Components

FDIC Certificate #34444
Year Established1997
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.74%
Return on Equity - YTD9.81%
Annual Interest Income$390.2MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$18.76B$11.72B
LoansQ3 2020vs Q3 2019$16.45B$10.23B
DepositsQ3 2020vs Q3 2019$10.93B$8.96B
Equity CapitalQ3 2020vs Q3 2019$1.15B$1.11B
Loan Loss AllowanceQ3 2020vs Q3 2019$155.6MM$51.1MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$64.2MM$19.4MM
Real Estate OwnedQ3 2020vs Q3 2019$131.00K$204.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

T-Mobile Money Checking Account Rates

4.00%*-$3kChecking 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

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