Press release

Bye, Big Banks. Hello, T-Mobile MONEY Introducing Your No-Fee, Interest-Earning, Mobile-First Checking Account

Sponsored by Businesswire

Another mobile pain point: tackled. Today, T-Mobile (NASDAQ: TMUS)
launched T-Mobile MONEY nationwide. It’s a no-fee, interest-earning,
mobile-first checking account that anyone can open and manage right from
their smartphone. With T-Mobile MONEY, eligible Un-carrier customers can
earn an industry-leading 4.00% Annual Percentage Yield (APY)* on
balances up to $3,000 – 50 times higher than the average U.S. checking
account1 – and 1.00 APY% on every dollar over that! Plus
avoid all those big bank fees and overdrafts.

This press release features multimedia. View the full release here:

(Graphic: Business Wire)

(Graphic: Business Wire)

“Traditional banks aren’t mobile-first, and they’re definitely not
customer-first. As more and more people use their smartphones to manage
money, we saw an opportunity to address another customer pain point,”
said John Legere, CEO of T-Mobile. “You work hard for your money … you
should keep it … and with T-Mobile MONEY, you can!”

Keep More, Earn More

Big banks are built on fees. In 2017, Americans paid $34 billion … in
overdraft fees alone!!2 And that’s just one kind of fee. Bank
of America Advantage Checking has 19 different types of fees, and Wells
Fargo Everyday Checking has 14!3 With T-Mobile MONEY, there
are no fees — no monthly, overdraft or transfer fees, no fees at over
55,000 in-network Allpoint® ATMs worldwide** and no fees from
T-Mobile for using out-of-network ATMs. Also, no minimum balance

And, you’ll earn more interest on your money, too. A lot more. T-Mobile
postpaid customers can get 4.00% APY* on balances up to $3,000 and 1.00%
APY on every dollar over $3,000 when they sign up with their T-Mobile ID
and deposit at least $200 each month. Everyone else scores 1.00% APY on
all balances.

Un-carrier postpaid customers can opt-in for Got Your Back overdraft
protection when they sign up for T-Mobile MONEY, so when the unplanned
happens, they can go in-the-red, up to $50, without penalty — just
bring the account back to a positive balance within 30 days.

Banking Built for Mobile

Consumers are outgrowing traditional banks – 7 out of 10 consumers bank
digitally4, and smartphones are the fastest growing digital
platform.5 Yet less than half of traditional banks say they
have a digital strategy6, and only 13% believe their core
systems can keep up with digital innovation.7

T-Mobile MONEY is built to be mobile-first, and you can do all the
things you need to do every day with your checking account right from
the app – make mobile check deposits, set up direct deposit, pay bills,
send a check, pay with a mobile wallet such as Apple Pay, Google Pay and
Samsung Pay, transfer money, even make payments person to person. The
app offers biometric security with fingerprint and Face ID login,
account alerts and debit card disabling.

Plus, T-Mobile MONEY comes with a Mastercard® debit card you can use at
more than 55,000
Allpoint ATMs worldwide
– more ATMs than Bank of America, Chase or
Wells Fargo.8 And you can use the T-Mobile MONEY app or web
site to locate the ATM nearest you. Plus, your T-Mobile MONEY Mastercard
offers Mastercard Zero Liability Protection.

T-Mobile MONEY is created in partnership with BankMobile,
a division of Customers
(Member FDIC), and has been available in a limited pilot since
November 2018. T-Mobile MONEY deposits are FDIC-insured up to $250,000.
Customers can get 24/7 bi-lingual customer service and support with
T-Mobile MONEY Specialists.

Get T-Mobile MONEY

To sign up, just 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 18 and older with a
social security number can open an individual account. T-Mobile MONEY
will come to Puerto Rico later this year.

For more information, visit:

, Apr 2018
, Bank
of America

, Sept 2018
5 PwC’s Digital
Banking Consumer Survey
, 2018
Consulting Group Global Corporate Banking, 2018

Financial Brand
, 2018
8 According to bank websites

* How APY works and what it means for you: As a T-Mobile MONEY customer
you earn 4.00% annual percentage yield (APY) on balances up to and
including $3,000 in your Checking account each calendar month when: 1)
you are enrolled in a qualifying T-Mobile wireless plan; 2) you have
registered for perks with your T-Mobile ID; and 3) you have deposited at
least $200 in qualifying deposits to your Checking account within the
current calendar month. Promotional deposits are not eligible toward the
$200 in deposits. If you meet this deposit requirement in a given month
we will pay you this benefit in the subsequent month as an added value
provided all other requirements are met. This added value is subject to
change. Balances above $3,000 in the Checking account earn 1.00% APY.
The APY for this tier will range from 4.00% to 2.79% depending on the
balance in the account (calculation based on a $5,000 average daily
balance). Customers who do not qualify for the 4.00% APY will earn 1.00%
APY on all Checking account balances for any month(s) in which they do
not meet the requirements listed above. APYs are accurate as of 11/1/18,
but may change at any time at our discretion. Fees may reduce earnings.
For more information, see Account
Disclosures / Terms and Conditions
or go to our FAQs.

** May incur fees from ATM providers when using out-of-network
ATMs or international ATMs and from Mastercard when making foreign

About T-Mobile US, Inc.

As America’s Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is redefining
the way consumers and businesses buy wireless services through leading
product and service innovation. Our advanced nationwide 4G LTE network
delivers outstanding wireless experiences to 79.7 million customers who
are unwilling to compromise on quality and value. Based in Bellevue,
Washington, T-Mobile US provides services through its subsidiaries and
operates its flagship brands, T-Mobile and Metro by T-Mobile. For more
information, please visit

About BankMobile

Established in 2015, BankMobile is a division of Customers Bank and
among the largest and fastest-growing mobile-first banking platforms in
the U.S., offering checking and savings accounts, personal loans and
credit cards. BankMobile, named the Most Innovative Bank by LendIt
Fintech in 2019, provides an alternative banking experience to the
traditional model. It is focused on technology, innovation, easy-to-use
products and education with the mission of being “customer-obsessed” and
creating “customers for life.” The disruptive, multi-partner
distribution model, known as “Bank-as-a-Service” (BaaS), created by the
executive team enables BankMobile to acquire customers at higher volumes
and substantially lower expense than traditional banks. Its low-cost
operating model enables it to provide low-cost banking services to
low/middle-income Americans who have been left behind by the high-fee
model of “traditional” banks. Today, BankMobile provides its BaaS
platform to colleges and universities and currently serves over two
million account-holders at nearly 800 campuses (covering one out of
every three students in the U.S.). It is one of the Top 15 largest banks
in the country, as measured by checking accounts. BankMobile is
operating as the digital banking division of Customers Bank, which is a
Federal Reserve regulated and FDIC-insured commercial bank. For more
information, please visit:

About Customers Bank

Customers Bank (NYSE: CUBI) is a super-community bank with $9.8 billion
in assets as of December 31, 2018, offering commercial and consumer
banking services along the I-95 corridor from Washington, DC to Boston;
and in Chicago. Commercial products include cash management; commercial
and industrial loans; small business loans; SBA government-guaranteed
loans; commercial and multi-family real estate loans; and financing for
leasing businesses and residential developers.

Customers Bank provides consumer banking services including savings,
checking, and money market accounts; certificates of deposit;
residential mortgages; and consumer loans. Additional consumer products
include “BankMobile Vibe online banking,” marketed by the BankMobile
Division and “Ascent Money Market Savings,” marketed by the Customers
Bank Digital Banking Division.

Customers Bank is a member of the Federal Reserve System with deposits
insured by the Federal Deposit Insurance Corporation. Customers Bank is
an equal opportunity lender. Customers Bank takes pride in delivering
extremely high levels of customer service while charging comparatively
very low fees; service that makes our clients say, “Wow.”

Commercial clients enjoy Single Point of Contact service with one team
to handle all banking needs. Retail bank clients are afforded Concierge
Banking® Services that brings banking to them, when and where they need

Customers Bank, with its headquarters located in Phoenixville,
Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding
company. The voting common shares of Customers Bancorp, Inc. are listed
on the New York Stock Exchange under the symbol CUBI. For more
information, please visit: