Yesterday, we told you about T-Mobile Money subscribers who were unable to access their money after T-Mobile made some changes to its T-Mobile Money banking program. As we pointed out, the changes included moving online T-Mobile Money access from the latter's app to the controversial and dreaded T-Life app. As bad as T-Life can be, other changes were made to T-Mobile Money.
For example, account holders were supposed to receive a new T-Mobile Money debit card and a new account number. But because T-Mobile failed to give its banking customers their new account numbers ahead of time, those who get paid by direct deposit had their wired cash placed in limbo since their old account numbers were no longer valid. There are some T-Mobile Money banking customers who have not been able to take out any money for over 72 hours and have dealt with hours-long phone calls with T-Mobile.
What makes this screw-up so serious is that some of the funds in these accounts were earmarked to pay the rent or make a mortgage payment. If you don't think that most T-Mobile Money customers are stressed, check out what this guy wrote: "Please keep me posted, I'll be following these posts, but if there's going to be a class action lawsuit, I want in on that. I haven't been able to get to my money for 48 hours, rent is due. I need to pay my phone bill, and I can't get to my paycheck."
Would you bank with T-Mobile Money?
No. Are you certifiable?
94.12%
Sure. Lessons have been learned.
5.88%
Check back with me in 2-4 years.
0%
How about the T-Mobile Money subscriber who tried to pay his rent through Apple Pay, which was linked to his T-Mobile Money account. His payment was declined. Another T-Mobile Money account holder complained that he will be late with his car payment because of "this bs."
One of the unfortunate people we quoted above mentioned that he wants in on a class action suit. You better believe that there will be such a lawsuit aimed at T-Mobile and Coastal Community Bank, which is the carrier's banking partner that replaced Customers Bank's BankMobile last April 1st. On Reddit, another person caught in T-Mobile Moneygate brought up the possibility of legal action: "Yep, where are the attorneys? I’m gonna sue the f*** out of them via class action lawsuits."
Well, there is good news for one person involved in all of this, and that is T-Mobile CEO Mike Sievert. Normally you might see news like this crater a company's stock. But over the last five days, T-Mobile's shares have been steady losing only .45%. Congrats, Mike! You barely felt it. Gee, you think Mr. Sievert was able to access enough cash to pay his rent, mortgage, or car payment?
"Iconic Phones" is coming this Fall!
Good news everyone! Over the past year we've been working on an exciting passion project of ours and we're thrilled to announce it will be ready to release in just a few short months.
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Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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