T-Mobile US is offering to put a bit of green in the pockets of consumers who are willing to let the carrier manage their finances.
T-Mobile US CEO John Legere announced via his preferred communication method – Twitter – that consumers who sign up for the carrier’s Mobile Money offering can receive a $20 credit if they register their Mobile Money account to receive a direct deposit of their tax refund. The carrier further goosed the offer by stating T-Mobile US customers that go this route will have faster access to their refund than with a traditional paper check refund.
T-Mobile US launched the Mobile Money offering last January in a move designed to curtail processing fees targeting so-called “un-banked” consumers. The offering relies on a smartphone application and re-loadable Visa prepaid card to provide a number of financial transactions at a lower cost than many conventional banks and financial institutions charge. T-Mobile US claims customers will not be charged an activation fee, for “monthly maintenance,” for making withdrawals at “in-network” automated teller machines or for a replacement card. There is also no minimum balance required for the service and as it’s a prepaid card there are no concerns with overdraft fees.
T-Mobile US added that the service allows customers set up direct deposit of paychecks, depositing checks from “capable” smartphone cameras, conduct retail transactions at locations that accept Visa, pay bills and withdraw cash from more than 42,000 in-network ATMs. Consumers can begin registering for the service today, with cards available in participating T-Mobile US retail locations. Cards will also be available at Safeway stores beginning next month.
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