T-Mobile US is now offering debit cards that can be managed using a smartphone app. The network operator and Bancorp Bank today launched the prepaid cards and software as Mobile Money, which is aimed at its subscribers who want to, for example, cash paychecks without having to pay middlemen a fee. Each of the T-Mobile-US- …
Would I trust T Mob to be my bank ?
With mystery £1 deductions from my PAYG balance at T Mob UK last year and recent national pre-pay billings meltdown ?
Re: Would I trust T Mob to be my bank ?
I'm sorry to hear that, but the exact same thing happened with VM, so I switched to Three and PAYG.
Here in the US T-mobile IMHO has it exactly right. You can put some cash in an account (just enough) the day before you need it, and everything works fine. The "monthly non-contract" is really very convenient.
This is, it seems, much better than giving them license to rifle through your bank.
Of course, my local credit union (as might yours) will let you create as many extra accounts as you like ($5 for each..) and then you can have a unique number just for certain purposes...
Looks like El Reg needs to pay for some US vacations
for their editing staff. They seem to be under the mistaken impression we trust our banks. The reality is, they're no worse than any of the other places we could store our money.
Also, given the article is primarily about Pay Day loans and check cashing services, the headline is highly misleading.
Frankly I'm suspicious of these groups who are constantly on a crusade against both services. The only time in my life I've used check cashing services was when I was in college. Going rate was 25 cents per check, I was usually cashing one from my mother valued at $25.00. Since graduating I have always had a job with direct deposit to my checking account. If you want one, you can get one. It isn't difficult. So it must be a cultural choice.
Them? Snail Mail is faster
I got as much as 9 BITS/sec on my property. Could WALK to a bank faster.
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