Sprint customers now have full access to T-Mobile’s banking solution, T-Mobile Money, following their merger.
T-Mobile completed the integration of Sprint’s stores and assets in early August, retiring the brand August 2. Since then, the company has been working to bring all the benefits of being a T-Mobile customer to former Sprint users.
The latest benefit is full access to T-Mobile Money, the carrier’s banking service. T-Mobile Money is an online banking service that offers a number of options not usually available from brick-and-mortar banks.
One of the biggest benefits of the service is 4.00% Annual Percentage Yield (APY) on balances up to $3,000. Once a balance goes over $3,000, it yields 1.00% APY. In addition, T-Mobile Money accounts have Got Your Back overdraft protection, no fees and account holders can get paid up to two days early. Because there are no physical bank locations, users who want to deposit a physical check can do so at participating 7-Eleven, CVS, Walgreens and Walmart locations.
“Today, more than ever, it’s absolutely critical that people keep more of their hard-earned money in their pockets. T-Mobile MONEY customers get an industry-leading return on their money with zero fees, so they keep more and grow more, the way it should be,” said Mike Sievert, CEO of T-Mobile. “This is just one more way we’re welcoming legacy Sprint customers into the T-Mobile family, and I’m not even close to finished yet.”