T-Mobile Money now available in Puerto Rico

t-mobile-money

T-Mobile Money made its big debut last year, aiming to offer a mobile-focused checking account. Now the service is expanding.

T-Mo today announced that T-Mobile Money is launching in Puerto Rico. Just like with the launch last year, T-Mo postpaid customers can get 4.00% APY on balances up to $3,000 and 1.00% APY on every dollar over $3,000 when they sign up with their T-Mobile ID and deposit at least $200 each month. Everyone else gets 1.00% APY on all balances.

T-Mobile Money also offers Overdraft Protection, letting T-Mo customers go up to $50 in the red without penalty so long as they bring their account back to a positive balance within 30 days.

Folks who sign up for T-Mobile Money get a Mastercard debit card that can be used at more than 55,000 Allpoint ATMs in the U.S. and abroad. You can use the T-Mobile Money app to locate an ATM near you as well as make mobile check deposits, set up direct deposit, pay bills, transfer money, and make person-to-person payments.

There are no account or overdraft fees with a T-Mobile Money account and no minimum balance requirement. There are no fees when you use an in-network Allpoint ATM in the U.S. or abroad, and T-Mo says there are no fees from T-Mobile Money if you use an out-of-network ATM, either.

We haven’t heard much about T-Mobile Money since its full launch nearly one year ago, but today’s expansion shows that T-Mo is still interested in becoming your bank. Some folks may be happy with their current bank, but having more options is a good thing, and so it’s nice that T-Mobile customers in Puerto Rico now have the option of signing up for T-Mobile Money, too.

Have you tried T-Mobile Money yet? If so, what do you think of it?

Source: T-Mobile, T-Mobile Money

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  • John Stetson

    Hi … yes I am a user of the Tmoney and highly recommend it, Ive been a user about a year now I’ve setup a monthly transfer from my main bank account but also make a few automatic payments from tmo.that way I make the deposit required and I maintain my $3000. 4% I’ve been killing it I don’t worry about putting in too much because even the 1% above 3 grand is more than my bank..I’ve got CD’$ that don’t pay 4%. T-Mobile rules I’m a fifteen year veteran of the pink T and they have upgraded my 3lines from 1000min/500texts/1gig // to full unlimited on all lines never increased price.$103.all in. Thanks for reading.

  • Brad

    I also have T-Mobile Money and love it even without some of the features, like early direct deposit and the $5 credit per line (old Simply Choice plan) isn’t eligible. Love the 4%!

    • JJ

      Agreed. I love the 4% but my old plan doesn’t qualify for the $5 discount. But still worth it. And it works with samsung pay and android pay which is great too. Plus the transferring between banks is decent. Wish it was as fast as paypal but it’s ok.

  • slybacon

    I have also enjoyed T-Mo money like the other comments below.

  • VGP

    I enrolled in the program, waiting for the mastercard debit card.