T-Mobile started its T-Mobile Money banking service in April 2019. It includes a no-fee checking account with no monthly maintenance fees, no overdraft fees, and no minimum balance requirements. Customers can get their direct deposit paycheck up to two days early. There is a high-yield interest account for T-Mobile Money account holders. As of August 2025, customers can earn a 4.00% Annual Percentage Yield (APY) on balances up to $3,000.
The T-Life app is at the center of a major problem for T-Mobile Money customers
T-Mobile makes an unfortunate change to the T-Mobile Money app. | Image credit-T-Mobile
He continued, “We got our new accounts yesterday but they closed our old accounts, so today my direct deposit went to the old account since the deposit had already processed yesterday.” Calling the experience “a fn mess,” he says that he ended up on hold for two hours and got no response. He tried the chat without success and ended up going through several T-Mobile Money agents without finding out where his money is and how to access it. “We were told we’d get a new card but never a word about a totally new bank account number. WTF were they thinking?”
“Out of legitimate curiosity, why on earth would anyone think a cellphone company is a good place to keep their money? Set T-Life aside for a second because we all know it’s absolute trash. I’m just curious as to what draws someone to T-Mobile of all places to use as a bank.”
-boywithflippers, Reddit subscriber
Another T-Mobile Money customer had a very similar experience. “They’ve been saying for a few weeks now that today was the day we all have to switch to the horrendous T-Life app for our banking needs and we also had to register a new card and also deal with a new account number….and none of it works. None of it. No access in the app, in fact there’s nothing in said app that leads to Money at all.”
Some customers had praise for T-Mobile Money…until this week
This customer also says that he has no access to his money, and after a two-hour hold, he was told that he had to wait 24 hours for the switchover to take place. He blasts T-Mobile by stating that, “This is pathetic and really messes up bill payments among other things,” and he called what happened the worst banking experience of his life.
I should add that several T-Mobile Money account holders praised the experience they had with the banking service until the other day. “I’ve had T-Mobile Money forever, and they’ve been great. But, this switch over is completely screwed up. I was able to activate my new debit card, but can’t find any way to download the T-Life app. I spent hours on the phone this morning, and was told I’d get a call back, but haven’t.”
The post continues: “I called again, and I’ve been on hold again for 45 minutes obviously because they’ve screwed up everyone’s accounts, and can’t handle the call volume because of that. What a completely screwed up mess. I am in tears because I can’t access anything now, and if I have to listen to the same classical bars repeat on hold much longer, I’m going to lose it.”
There are quite a few accounts like this. It’s another opportunity for the T-Life app to take it on the chin. First, we passed along comments made by T-Mobile reps who are not happy being replaced by the app. Now, T-Mobile Money customers, many with T-Mobile postpaid phone accounts, are upset. Will T-Mobile get the message?
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