T-Mobile, Now a Debit Card Company?

tmobileT-Mobile bucked contracts. They started offering to pay off early termination fees. But, all that was in line with being a mobile carrier – or, the un-carrier, as they like to style themselves. Well, it turns out T-Mobile wants to give some more industries the ‘un-‘ treatment, and they’re starting off with personal finance.

Behold, the T-Mobile debit card. Well, no, it’s not technically a debit card, but in practice, you won’t be able to tell the difference. The T-Mobile Visa Prepaid Card is available to all active T-Mobile customers, and does all the work of a debit card. You can use it to make purchases, pay bills, and withdraw cash at ATMs. You can even set up direct deposit for your paychecks using the card. The advantage is the complete lack of fees – no activation fees, no minimum balances, no maintenance fees, and no overdraft fees.

It’s kinda like a perpetual gift card, except you can use it everywhere for anything, and you can convert it into cash when you need to. So, the best gift card ever. The lack of fees makes it beat an awful lot of banks out there, too. The most amusing part is that this doesn’t seem to have anything to do with T-Mobile’s mobile business – yeah, you can manage your card on your smartphone, but this seems on the whole unrelated to being a wireless provider. T-Mobile’s just out there doing their own thing, now, and it looks like it’s working for them.

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