Forum Discussion
what's up with T-mobile removing autopay discount for credit cards?
I just literally signed up for a new plan - debit cards have fees for providers too - accessing my bank account isn’t a good approach from a security perspective (noting that T-mobile has been hacked...
That was announced months ago. It is because credit card companies charge a service charge that is based on the percentage of every transaction, which eats into T-Mobile's revenue. Removing the auto pay discount for credit cards negates that.
Yep, this is a money grab to the detriment of the customer. I don't pay ANY bills with a debit card or a checking account. No one should allow a vendor to store their debit card or checking account number. There are far fewer protections for these than for credit cards. You are giving the company FULL ACCESS to your checking account, with no legal recourse against the bank of Tmobile accidentally or intentionally takes too much or overdrafts your account.
No doubt a large company like Tmobile with a relatively large average ticket size pays less than 2% for their merchant services. So, on my monthly $250 bill, their cost is no more than $5. But if I don't give a debit card, they charge me $40.00. UNACCEPTABLE.
