Does T-Mobile have a bank account service? Is T-Mobile MONEY a bank account?

Some mobile communications subsidiaries of the German telecommunications company Deutsche Telekom AG operate under the brand name T-Mobile, including those in the Czech Republic (T-Mobile Czech Republic), Poland (T-Mobile Polska), the United States (T-Mobile US), and the former subsidiary in the Netherlands (T-Mobile Netherlands).

Prior to the launch of the T-Mobile brand in 1996, subsidiaries in a number of other nations, including Austria (now Magenta), Croatia (now Hrvatski Telekom), Germany (now Deutsche Telekom), Hungary (now Magyar Telekom), Montenegro (now Crnogorski Telekom), North Macedonia (now Makedonski Telekom), Romania (now Telekom România), Slovakia (now Slovak Telekom), and the United Kingdom, used the name (now EE Limited).

The holding company T-Mobile International AG was established by Deutsche Telekom in 1999 to house its mobile communications businesses.

Does T-Mobile have a bank account service? Is T-Mobile MONEY a bank account?

Everyone, not just T-Mobile customers, can access the bank account.

Nevertheless, members of the carrier’s postpaid plans, such as T-Mobile One or Simple Choice, are the only ones eligible for the 4% rate and other benefits. Customers of banking institutions must also deposit at least $200 into the account each month to qualify for the 4% rate.

The additional return on the $3,000 from the higher rate is $120 per year. Although it’s not much, it would currently pay for a month’s worth of phone service on the T-Mobile One plan for a family of three.

For non-customers and those with prepaid contracts, the cost is 1% on the available balance in their checking accounts, which is still more than four times the national average. Each month, interest on the loan is paid.