Checking Account That I Use As A Savings Account
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.
Excellent Bank
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.
Do Not Waste Your Time
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!!!
Aweful Experience And Not Customer Friendly
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.
Wish I Would Leave A Negative Rating
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.
Terrible. Just Terrible.
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.
Data as of Q1 2019
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34444 |
| Year Established | 1997 |
| Employees | 842 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.67% |
| Return on Equity - YTD | 6.26% |
| Annual Interest Income | $101.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2019vs Q1 2018 | $10.13B$10.76B |
| Loans | Q1 2019vs Q1 2018 | $8.70B$8.78B |
| Deposits | Q1 2019vs Q1 2018 | $7.45B$7.12B |
| Equity Capital | Q1 2019vs Q1 2018 | $1.07B$1.03B |
| Loan Loss Allowance | Q1 2019vs Q1 2018 | $43.7MM$39.5MM |
| Unbacked Noncurrent Loans | Q1 2019vs Q1 2018 | $25.0MM$27.9MM |
| Real Estate Owned | Q1 2019vs Q1 2018 | $976.00K$1.7MM |
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.
T-Mobile Money Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 4.00%* | - | $3k | Checking Account | ||
| 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