T-Mobile’s Mobile Money offers finance with no transaction fees
Users can sign up for a Mobile Money account or visit their local mobile stores for more information
T-Mobile has announced today that the company is extending its Un-carrier consumer movement to personal finance – basically they will be transforming smartphones into personal money managers that can free people from the excessive fees they often pay to use their own money.
T-Mobile has come up with the Mobile Money, which will shift the balance of power for T-Mobile customers and keep more money in their pockets, according to John Legere, president and chief executive officer of the company. He says that they’ve already transformed how Americans use and pay for their phones, tablets and wireless service, so why stop there?
According to a survey for Bankrate, ATM, overdraft and monthly maintenance feels all hit record highs last year. This is why Mobile Money could help counter that trend with its smartphone money management application, designed to use with a re-loadable T-Mobile Visa Prepaid Card, which offers many reduced fees for $0 cost services for registered wireless T-Mobile customers.
Thanks to Mobile Money, customers can do most everything they would otherwise do with traditional checking accounts, like direct depositing paychecks, depositing checks from capable smartphone cameras, making retail purchases, payting bills and withdrawing cash from more than 42,000 network ATMs worldwide with no fees.
It has been reported that T-Mobile has partnered with The Bancorp Bank in order to deliver Mobile Money and thanks to a license from Visa, it can also be used anyplace that accepts those kinds of debit cards.
According to Mike Sievert, chief marketing officer at T-Mobile, it’s ridiculous that families have to pay so much for basic check cashing services that many take for granted. Mobile Money will level the playing field and put money back into the consumer’s pockets for important things will bills, groceries or even vacations.
Users can apply for a Mobile Money account online HERE or they can visit their local mobile stores, starting February.
Source: Android Community