Tmobile money full#

Therefore, while moving $200 over each month was a snap for me, making sure to put 10 transactions on the card each month sounds like work. Unfortunately, in my case, it will likely make earning that 4% harder as I typically use credit cards for most purchases, not debit cards.

Tmobile money full#

Similarly, according to the email, “If you have Got Your Back overdraft protection when we make this change, you’ll keep it! Otherwise, eligible customers need to make 10 qualifying purchases in a single month to activate it.” That wording is a bit confusing but, since Got Your Back allows customers to overdraft their account by up to $50 with no fee as long as they bring their account back to positive territory within 30 days, I’m assuming this just means that account holders will still have their full 30 days to pay back the funds even if their owing period goes past this March 31st date - not that they’ll just indefinitely retain this coverage.Īs for why these changes are being made, T-Mobile wrote, “We understand making a monthly deposit may be tough and we want T‑Mobile MONEY to work for you. So, we’re making it easier for eligible customers to earn 4.00% APY.” To be fair, that’s actually some decent reasoning and is likely true for most people. Previously, this rate was unlocked by depositing at least $200 per month into their account, so this is quite a switch. First, in order for account holders to earn the 4% APY on balances up to $3,000, they’ll now need to make at least 10 qualifying purchases with their T-Mobile Money debit card.

In an email sent to customers this morning, T-Mobile Money explained some changes to the account that will take effect on March 31st, 2021. In fact, the latest example falls into the lattermost category as T-Mobile Money has just announced a shift in strategy that will impact how accountholders earn their coveted 4% APY.

This has happened more than a few times now, with victims ranging from credit cards to apps to banking accounts. The downside of trying and keeping up with a lot of personal finance products is that I often find myself being disappointed when tools I love either die or make major changes.