T-Mobile Announces 'Mobile Money'

T-Mobile US

today announced the company is extending its Un-carrier consumer movement to personal finance - transforming smartphones into personal money managers that can free people from excessive fees they often pay to use their own money. The company calls this next phase of its consumer revolution Mobile Money by T-Mobile®. "We've already transformed how Americans use and pay for phones, tablets and wireless service; why stop there?" said John Legere, president and chief executive officer of T-Mobile. "Millions of Americans pay outrageous fees to check cashers, payday lenders and other predatory businesses - just for the right to use their own money. Mobile Money shifts the balance of power for T-Mobile customers and keeps more money in their pockets." ATM, overdraft and monthly maintenance fees all hit record highs last year, according to Bankrate's 2013 Checking Survey. Mobile Money helps counter that trend with the combination of a simple,