Saturday, June 15, 2024

T-Mobile Brings True Name® by Mastercard® to T-Mobile MONEY

Many Americans face complications or adversity when making purchases because the name on their debit card doesn’t match who they truly are. Today T-Mobile announced True Name® by Mastercard® for T-Mobile MONEY, enabling all customers, including transgender and non-binary customers, to be their authentic self with their chosen name on their T-Mobile MONEY debit card. This follows a move from the Un-carrier to enable T-Mobile, Sprint, Metro by T-Mobile and Magenta prepaid customers to have their chosen name displayed on Caller ID.

“Adding True Name to T-Mobile MONEY is a simple yet incredibly impactful shift that gives customers who want to show their true self the ability to do just that — and a natural extension of T-Mobile’s belief that everyone deserves to feel included, valued and empowered,” said Jon Freier, T-Mobile’s President, Consumer Group. “Nearly a third of people who have shown an ID with a name that did not match their gender identity have been denied service or had other negative experiences. That shouldn’t happen and this new option will ensure customers don’t face those same challenges when using their debit card.”

“Mastercard’s True Name feature brings incredibly meaningful, everyday impact to our cardholders in the transgender and non-binary communities. It’s fantastic to have our partners recognize the value this program brings and join our inclusion mission,” said Cheryl Guerin, EVP, Global Brand Strategy and Innovation Actions at Mastercard. “We’re so proud to use the power of the Mastercard network to support and empower this community, and make a true difference in peoples’ lives.”

It’s both a long and costly process to get those personal IDs and documents updated — 65% of transgender Americans say it costs $100 or more to legally change their name, often a first step towards updating IDs and bank cards. T-Mobile makes it easy for customers to be themselves. New and existing T-Mobile MONEY customers can now request a new debit card with their chosen name through the T-Mobile MONEY app or website. Simply go to Settings, toggle on True Name, add your chosen name, review your card and T-Mobile MONEY will mail it to you. Customers can also use their True Name when reaching out to T-Mobile MONEY Specialists for help. And all T-Mobile customers can have their chosen name displayed on Caller ID by going to their account’s Profile Settings on My T-Mobile.

True Name, brought to T-Mobile MONEY through T-Mobile’s partnership with Mastercard, BM Technologies, Inc. and Customers Bank, Member FDIC, is just another way T-Mobile is supporting inclusivity for its customers and employees. T-Mobile has maintained a perfect score on the Human Rights Campaign’s Corporate Equality Index for the last ten consecutive years. And in June 2021, the Un-carrier announced a total donation of $1.25 million to initiatives developed by the Human Rights Campaign Foundation (HRC) and GLSEN — $1 million to the HRC Foundation’s new financial and digital literacy initiatives and $250,000 to GLSEN’s efforts aimed at making schools safer and more inclusive for LGBTQIA+ students.

You, Your Money, Your Way

With the T-Mobile MONEY Checking account, T-Mobile postpaid customers can get 4.00% Annual Percentage Yield (APY1, 2) on balances up to $3,000, Got Your Back overdraft protection up to $503 and 1.00% APY on every dollar over $3,000 when they sign up with their T-Mobile ID, register for perks and make at least 10 qualifying purchases per month. Everyone else scores 1.00% APY on all Checking account balances. T-Mobile MONEY Checking account customers can also get their paycheck up to two days early4, make cash deposits5 and now open a Savings account.

Plus, while other banks only reduce their overdraft fees, T-Mobile MONEY has never had overdraft fees — or ANY account fees. Last year, average overdraft fees hit a record $33.58. That’s $33 every time you overdraw your account. And it adds up — Americans paid more than $12 BILLION in fees for bounced checks and overdrafts in 2021. Some Americans paid over $600 in overdraft fees last year! And that doesn’t even include transfer fees, ATM fees and other hidden costs. With T-Mobile MONEY, there are no monthly, overdraft or transfer fees; no fees at over 55,000 in-network Allpoint® ATMs worldwide and no fees from T-Mobile MONEY for using out-of-network ATMs6.

To get T-Mobile MONEY, download the T-Mobile MONEY app from the Google Play Store for Android 5.1 or later or Apple App Store for iOS 10.3 or later (or use T-Mobile MONEY online at Sign up directly from your smartphone, and anyone — T-Mobile customer or not — can get an account. For personal support, you can sign up in any T-Mobile retail store or by calling 1-866-686-9358. T-Mobile customers can dial **MONEY. Residents of the 50 U.S. states and Puerto Rico 18 and older with a social security number can open an individual account.

Follow T-Mobile’s Official Twitter Newsroom @TMobileNews to stay up to date with the latest company news.

T-Mobile MONEY accounts are powered by BMTX, provided by Customers Bank, Member FDIC.

People In This Post

Companies In This Post

  1. Doha Bank and Mastercard Announce Long-Term Strategic Partnership to Shape Qatar’s Payments Landscape Read more
  2. eBay Launches Venmo as a Payment Option Read more
  3. CRIF Completes Bond Issue With Another US Institutional Investor Read more
  4. Payzli Announces Strategic Leadership Restructuring to Accelerate Growth Read more
  5. Bank for International Settlements and Bank of Canada launch BIS Toronto Innovation Centre Read more