It seems that if there is one thing that the world badly needs today is more John Legeres who always try to be one step ahead patching holes in the net customers are using. T-Mobile’s phone net appears to be all patched up thanks to the UnCarrier project and little can be done to further improve the experience, except maybe for offering free phones and free service, but we wouldn’t count on that to happen soon. After all, T-Mobile needs to earn money somehow. Speaking of money, the carrier just launched a new service, Mobile Money, which will help you manage your cash in an easy and cost-free way.
New service may save you up to $1,725 a year
The service combines an app called Mobile Money with a T-Mobile pre-paid Visa card. You can get the card from the carrier’s retail stores or online. If you are a T-Mobile customer, you won’t have to pay even a penny for the service, since there are no purchase and activation fees, no monthly maintenance fee, no withdrawal fee on ATMs and no minimum balances. Non-T-Mobile customers can use the service too, though some fees are required.
You can reload the card in a T-Mobile store, for free of course, or deposit checks into Mobile Money account just by taking a picture of them with your phone. It doesn’t get any easier than that, does it? You can also withdraw cash from 42,000 supported ATMs and, knowing the receiver’s phone number and the last four digits of their T-Mobile card, send money to another pre-paid card.
T-Mobile estimates that thanks to no-fee policy, the service will help you save up to $225 a year in overdraft charges and $1500 a year using a check cashier to cash payroll checks.
more info: T-Mobile