T-Mobile: a bank in your pocket

As part of its Uncarrier repositioning, T-Mobile is launching into the banking business with a pre-paid debit card and banking app. But if people aren't willing to trust banks with their cash, why should they trust a telecoms provider?

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"I am carrying cash from now on," comments a disgruntled Michaels Stores customer, following the retailer's data breach. "The good old-fashioned way." It's one in a number of chains – including Target and Neiman Marcus – that have undergone severe security issues, affecting millions of credit and debit accounts and unnerving American consumers. As a result, more than a third are favouring cash over card. [1]