T-Mobile Money to get new eligibility rules starting March 31

0

T-Mobile is one of the many carriers around the world that offers an online banking account to customers eligible for such a product. Although it doesn’t have any perks that make it exceptional, T-Mobile Money does have some benefits that some will find very useful.

For starters, you don’t have to be a T-Mobile customers to be eligible for Money. Secondly, there are no fees attached to the account, no balance requirements and your T-Mobile Money account is insured up to $250,000.

The best perk of having a T-Mobile Money account is the 1% APY (annual percentage yield), which can be raised to 4% by T-Mobile and Sprint customers. However, in order to earn 4% APY, you must deposit at least $200 per month into your account.

According to TmoNews, that’s going to change come next month. According to a new report, starting March 31, T-Mobile Money customers will no longer be required to deposit $200 per month to benefit from the higher APY. Instead, you will have to make 10 qualifying purchases each month to earn 4% APY.

The information hasn’t been confirmed by T-Mobile yet, but it looks like the carrier is already informing customers about the new changes.

FOLLOW US ON GOOGLE NEWS

 

Read original article here

Get real time updates directly on you device, subscribe now.