T-Mobile Money
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.
Not Liking 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.
This Bank Is A Joke
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.
Data as of Q2 2019
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34444 |
| Year Established | 1997 |
| Employees | 864 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.53% |
| Return on Equity - YTD | 5.13% |
| Annual Interest Income | $213.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $11.18B$11.09B |
| Loans | Q2 2019vs Q2 2018 | $9.67B$9.08B |
| Deposits | Q2 2019vs Q2 2018 | $8.20B$7.39B |
| Equity Capital | Q2 2019vs Q2 2018 | $1.07B$1.04B |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $48.4MM$38.3MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $16.5MM$30.2MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $1.1MM$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