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Thread: Anyone using T-Mobile Money?

  1. #1
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    Anyone using T-Mobile Money?

    Sprint customer here....

    Just curious if anyone is currently using T-Mobile Money

    https://www.t-mobilemoney.com/en/home.html

    I signed up about a year ago and have it linked to an old Tmobile prepaid plan, but of course that doesn't qualify for 4% on balances up to $3000, only the standard 1%

    I know the 4% is for Tmobile Postpaid plans. Does anyone use Tmobile Money with a grandfathered Tmobile postpaid plan and qualify for the 4%?

    I am assuming Sprint users will qualify eventually, but it's possible Tmobile Money could make them choose a current Tmobile plan to qualify for the 4%

    The 4% rate also requires a monthly deposit of $200, but it would be easy enough to setup an auto-deposit of $200 and then transfer money out, once the balance exceeded the $3000 maximum.

    Is $120, a year worth giving up a grandfathered plan, no. Most normal banks pay 1% interest and some will pay higher if you make so many debit card transactions or meet other requirements.

    Is an extra $90 in interest income going to substantially change my life, no, but neither is a free hamburger or Starbucks coffee, but it is nice to have, and just another Tmobile perk that could be a nice bonus.

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    Quote Originally Posted by diesteldorf View Post
    I know the 4% is for Tmobile Postpaid plans. Does anyone use Tmobile Money with a grandfathered Tmobile postpaid plan and qualify for the 4%?
    T-Mobile definitely includes grandfathered postpaid plans in their account terms disclosures:

    "An interest rate of 3.93%, with an Annual Percentage Yield (APY) of 4.00%, will be paid on balances up to and including $3,000.00 in your Account for calendar months when all of the following conditions are met:

    You are enrolled in an active T-Mobile postpaid wireless plan (e.g. T-Mobile ONE, T-Mobile ONE+ and Simple Choice plan(s) and other postpaid plans, excluding the No Credit Check plan (a “Qualifying Plan”)); "


    https://www.t-mobilemoney.com/en/terms.html#tcdisc

    It doesn't look like they are trying to use it to up-sell people to newer postpaid plan.

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    Quote Originally Posted by diesteldorf View Post
    Sprint customer here....

    Just curious if anyone is currently using T-Mobile Money

    https://www.t-mobilemoney.com/en/home.html

    I signed up about a year ago and have it linked to an old Tmobile prepaid plan, but of course that doesn't qualify for 4% on balances up to $3000, only the standard 1%

    I know the 4% is for Tmobile Postpaid plans. Does anyone use Tmobile Money with a grandfathered Tmobile postpaid plan and qualify for the 4%?

    I am assuming Sprint users will qualify eventually, but it's possible Tmobile Money could make them choose a current Tmobile plan to qualify for the 4%

    The 4% rate also requires a monthly deposit of $200, but it would be easy enough to setup an auto-deposit of $200 and then transfer money out, once the balance exceeded the $3000 maximum.

    Is $120, a year worth giving up a grandfathered plan, no. Most normal banks pay 1% interest and some will pay higher if you make so many debit card transactions or meet other requirements.

    Is an extra $90 in interest income going to substantially change my life, no, but neither is a free hamburger or Starbucks coffee, but it is nice to have, and just another Tmobile perk that could be a nice bonus.
    I'm using it on a grandfathered Simple Choice NA plan. My wife and I each parked $3K in a Money account and each month I move $200 into each account from our "real" bank account, and transfer $210 (the $200 plus the $10 interest we've earned each month) back. $240/year for a few minutes work each month isn't bad. That's like another 200 free tacos a year!

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    Anyone using T-Mobile Money?

    I’m on the grandfathered One Plus Promo Plan.

    I threw a few thousand into T-Mobile Money with the understanding that I’d accrue interest of 4% up to but not exceeding the amount you mentioned.

    To be honest I totally forgot that I had an account with them so thanks for the reminder! My intent was simply to test the service out and accrue interest.

    In the beginning I did have some issues with funding the account from my main checking account through Citibank but that has been ironed out.




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    I thought about it, but at the time T-Bills were yielding pretty well and it seemed like more trouble than it was worth for a small amount of interest.
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    I have it, i just keep my liquid "eFund" over there (3mos of bills, easily accessible) and just have $200 direct deposited on the day i'm paid each month, then move $210 out to a "high-yield" savings account.
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    Nope, not T-Mobile money. I have been using other money like a master card, debit card.

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    Quote Originally Posted by Alessio22 View Post
    Nope, not T-Mobile money. I have been using other money like a master card, debit card.
    But T-Mobile money is magenta colored and has John Legere's portrait on it!



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  9. #9
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    Quote Originally Posted by Alessio22 View Post
    Nope, not T-Mobile money. I have been using other money like a master card, debit card.
    that's what it is just one that pays 4% interest monthly on the money left in there for savings.

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    Quote Originally Posted by brad15 View Post
    that's what it is just one that pays 4% interest monthly on the money left in there for savings.
    True, It is actually a checking account with a MasterCard debit card.

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