*(Via LA Times) – T-Mobile on Wednesday continued to push the boundaries of what defines a mobile carrier by announcing Mobile Money, a new personal finance service that lets customers store and manage their money with the Seattle-based company.
Customers who sign up for Mobile Money are essentially getting a traditional checking account.
Customers can have money deposited directly to their Mobile Money account or deposit checks by taking a picture with their smartphone.
Mobile Money customers also get a Visa debit card that they can use to make purchases, pay bills or withdraw cash from a network of 42,000 ATMs scattered throughout the nation. The ATMs can be found using a mobile app that can also be used to manage customers’ money.
One of the advantages of Mobile Money is that the service does not have many of the fees that come with traditional checking accounts, the company said.
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