Some T-Mobile users need to provide approval for continued provision of specialized service

In 2019, T-Mobile introduced a checking account called T-Mobile Money in collaboration with Customers Bank's BankMobile. The carrier has now switched its banking partner and requires your explicit approval.

T-Mobile is a carrier first and foremost but that doesn't stop it from dabbling in other sectors. T-Mobile Money is touted as a mobile-first and customer-first checking account with no fee.

With a T-Mobile checking account, you can make check deposits, set up direct deposits, pay bills, transfer money, and pay with mobile wallets. It even comes with a Mastercard debit card.

The company has started notifying customers that from April 1, its banking partner will be changed to Coastal Community Bank. To approve this change, you will have to give your consent for the change by Match 18. This will ensure that your T-Mobile MONEY account continues to function normally and most importantly, it's not closed.

If you do not respond, your account will be shut down, and T-Mobile will send a check for your funds to your mailing address.

If a different banking partner is going to have no bearing on your decision to continue banking with T-Mobile and you want to ensure no disruption to your financial activities, you must grant your approval by Match 18. Otherwise, your account will be closed.

T-Mobile hasn't mentioned why it's switching to a new partner, but The Mobile Report suspects it might be because the Federal Reserve has imposed an enforcement action against the Pennsylvania-based Customers Bank for deficiencies around its risk-management and anti-money-laundering practices. The bank started addressing the issues right away and a fine was not imposed but T-Mobile probably wants to play it safe by terminating the partnership instead of running the risk of alienating its users. It doesn't help that the bank was also sued late last year, though that was for a different issue.