T-Mobile MONEY is a new high interest savings account with the major banks. The 3% APY on your balance will be paid by American Express or MasterCard and you can earn an additional 1% if your balance reaches $2,500. You’ll also get access to special offers & fee waivers – like this one!

T-Mobile MONEY is a new savings account that offers 4.00% APY for T-Mobile & Sprint customers (1.00% for everyone else). The account also has no minimum balance requirement, which is great because it can be used as a checking account or just to save money. Read more in detail here: t-mobile money reviews.

T-Mobile MONEY Review: 4.00% APY For T-Mobile & Sprint Customers (1.00% For Everyone Else)

At 4.00 percent APY, T-Mobile Money provides one of the best accessible checking account interest rates in the country! Find out more about this checking account and why it’s a great place to stash your emergency funds.

Ninja Update 1/28/22: In addition to the checking account, they have added a savings account that pays 1% APY. I’m not sure why, given that the checking account gets 4% interest. Thanks to DoC for the updated information.

T-Mobile Money: What Is It?

T-Mobile MONEY is an online checking account that allows you to do everything a traditional checking account allows you to do, including deposit checks through mobile deposit, pay bills online, withdraw money from ATMs, and mail checks to others.

All of information is available via T-MONEY Smartphone’s mobile app or website.

So, what distinguishes this checking account from others?

For starters, there are There are no account fees. with T-Mobile MONEY. Two, it has a fantastic interest rate of 4.00 percent!

There are no account fees.

T-Mobile MONEY There are no account fees.T-Mobile MONEY There are no account fees. (Photo courtesy of T-Mobile)

Account fees are no longer an issue. Monthly costs, minimum balance fees, maintenance fees, overdraft fees*, and ATM fees are all waived at T-Mobile MONEY’s over 55,000 ATMs.

*The ‘Got Your Back’ incentive waives overdraft costs up to $50 for T-Mobile and Sprint post-paid users.

When you compare this to checking accounts provided by big banks, you can see that T-Mobile MONEY has a distinct advantage:

T-Mobile MONEY account fee comparison chartT-Mobile MONEY account fee comparison chart (Photo courtesy of T-Mobile)

Interest Rate: 4.00 percent Annual Percentage Yield

This is the account’s high point!

T-Mobile has an extremely low interest rate for everyone, regardless of whether or not you have phone service with them. This account, in my opinion, is one of the best places to put your emergency funds and watch them grow.

If you’re also a T-Mobile or Sprint post-paid user, you’ll get an even better deal.

Everyone gets a 1% annual percentage yield.

T-Mobile MONEY offers a 1.00 percent annual percentage rate (APY) on all balances.

If you’ve been searching for a bank account to put your hard-earned money in, you know how difficult it is to find one. You’ll have a hard time finding a checking account that pays more than 0.06 percent annual percentage yield.

T-Mobile MONEY’s interest rate is one percent. APY not only outperforms almost all competing checking accounts, but it also outperforms most savings accounts.

T-Mobile customers (+ Sprint customers) get a 4% APY.

On balances up to $3,000, T-Mobile and Sprint post-paid users may receive a 4.00 percent annual percentage yield!

Amounts exceeding $3,000 will get a 1.00 percent annual percentage yield.

To qualify for the higher rate, just sign up for the benefit and deposit at least $200 per month into your T-Mobile MONEY account.

Note from Ninja: Beginning March 31, 2021, qualified clients will no longer be needed to deposit $200 per month to earn a 4.00 percent annual percentage yield. To earn the higher 4.00 percent APY rate, just use the T-Mobile MONEY card to make 10 qualified transactions every month.

T-Mobile Money Review: 4.00% APYT-Mobile Money Review: 4.00% APY (Photo courtesy of T-Mobile)

How can I become a T-Mobile MONEY subscriber?

You may set up for a T-Mobile MONEY account as long as you match the following requirements:

  • You must be at least 18 years old to participate.
  • Have a government-issued ID from the United States or a state-issued driver’s license/ID
  • Do you have a Social Security Number (SSN)?
  • Have a street address in the United States or Puerto Rico.

Online registration is available.

Direct Access

You can Online registration is available. by logging in with your existing T-Mobile ID if you’re a mobile customer.

If you don’t already have a T-Mobile ID, you can get one for free.

Sign up for T-Mobile MONEY onlineSign up for T-Mobile MONEY online (Photo courtesy of T-Mobile)

T-Mobile MONEY App Registration

App may be downloaded from the Apple App Store or the Google Play Store.

You may also create an account by installing the T-Mobile MONEY app from the Apple App Store or Google Play Store and following the on-screen instructions.

Most Commonly Asked Questions (FAQs)

Is T-Mobile MONEY insured by the Federal Deposit Insurance Corporation (FDIC)?

Yes, T-Mobile MONEY is protected by the Federal Deposit Insurance Corporation (FDIC) up to $250,000.

34444 is the FDIC certificate number. BankMobile, a part of Customers Bank, holds T-Mobile MONEY accounts (Member FDIC).

Is it possible for me to receive a debit card?

Yes, a free Mastercard debit card will be delivered to you after you establish your T-Mobile MONEY account.

The debit card is free to use at over 55,000 Allpoint ATMs around the globe and comes with Mastercard Zero Liability Protection.

Use this search page to locate an Allpoint ATM.

Can I use T-Mobile MONEY to make checks?

When your debit card is shipped out, three blank checks are included.

If you need extra paper checks, go to the Vistaprint option inside the T-Mobile MONEY app and place an order.

Final Thoughts

I switched my wireless service to T-Mobile several years ago and loved it ever since. The coverage levels of the Big 3 wireless carriers (AT&T, T-Mobile/Sprint, and Verizon) are so similar now that you should base your decision solely on what gives you the cheapest monthly rate.

In my instance, it was T-Mobile, and not only am I receiving the best deal on service, but I’m also getting a variety of other perks.

T-T-Mobile Mobile’s Tuesday program gives away free things and provides special incentives every week on Tuesday. I’ve received Amazon gift cards, Starbucks lattes, and gas discounts as a result of it.

T-Mobile MONEY is another another attractive feature for T-Mobile subscribers. A 4-percent annual percentage yield (APY) is one of the best savings rates available, and the qualifications to qualify for it are simple.

Even though the 4 percent rate is limited to a maximum balance of $3,000, it’s still worthwhile since sums exceeding that receive 1 percent.

The “T-Mobile MONEY Review: 4.00% APY For T-Mobile & Sprint Customers (1.00% For Everyone Else)” is a review of the T-Mobile Money account from NerdWallet. The review makes it clear that there are some great benefits to using this account, but also points out the disadvantages of using it. Reference: t-mobile money review nerdwallet.

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