Boost Mobile Expands into Financial Services Arena with Launch of OmniMoney - No-Fee Digital Checking Account

Rhea-AI Summary

Boost Mobile has launched OmniMoney, a free digital money account and debit card aimed at historically underbanked consumers. This new service offers mobile access to money transfers, debit cards, and no-fee digital checking. Users can enjoy in-store cash deposits, discounts on Boost services, and free remittances to Mexico up to $1,000 monthly with select plans. OmniMoney has no credit checks, minimum balance requirements, or monthly fees. The app allows easy management of finances and provides access to over 400,000 ATMs nationwide.

Positive

• Launch of OmniMoney enhances Boost Mobile's service offerings.
• OmniMoney caters to 60 million underbanked Americans, expanding market reach.
• No fees, minimum balance requirements, or credit checks attract more users.
• Offers free remittances to Mexico, adding customer incentives.
• Access to over 400,000 ATMs provides convenience for users.

Negative

• None.

Millions of historically underbanked consumers can now connect to a free digital money account and debit card through OmniMoney by Boost Mobile

ENGLEWOOD, Colo., Oct. 27, 2022 /PRNewswire/ --  Boost Mobile, the wireless carrier that puts the power back into the hands of the people, announced the launch of OmniMoney by Boost Mobile. OmniMoney represents the latest Boost value-added service delivering mobile access to money transfer, debit cards and basic no-fee digital checking services. In-store cash deposits are also available in select Boost Mobile stores, with nationwide expansion in the coming months.

Boost Mobile Expands into Financial Services Arena with Launch of OmniMoney App, No-Fee Digital Checking Account

Users can deposit funds into their OmniMoney account and receive both a digital and physical debit card; opening access to thousands of ATMs. In addition to removing onerous fees, OmniMoney customers will get special discounts and perks on Boost Mobile wireless service - including free remittances to Mexico of up to $1,000 per month with premium unlimited plans. 

"We're looking to provide basic services for historically excluded communities – where 60 million Americans are underbanked¹," said Stephen Stokols, who heads Boost Mobile. "Not only do Boost Mobile customers have access to low-cost unlimited wireless services, but now they are empowered to take control of their finances with new tools through the OmniMoney app."

OmniMoney provides an easy way for customers to view deposits and withdrawals, make secure payments, transfer money, send remittances, and instantly secure their account. With no credit check, no minimum balance requirements, and no monthly fees for active users - OmniMoney provides financial power to customers through the convenience of their phone.

"Now more than ever, people are examining their expenses as inflation continues to be a serious pain point," said Stokols. "We are investing in customers who use their phone to power their lives."

OmniMoney by Boost Mobile features:

• 24/7 online customer support
• Instant security with the OmniMoney app to freeze, unfreeze, or cancel your debit card
• No minimum balances or monthly fees for active users
• No credit check required
• Account and card management via the OmniMoney app
• Access to 400,000+ ATMs in the United States for withdrawals and deposits
• Mobile check deposits
• International purchases
• Remittances to Mexico
• Account security with biometric authentication
• Cash deposits at Boost Mobile stores (available at select locations)

OmniMoney by Boost Mobile is available for download in the Apple App Store for iPhone users and in the Google Play Store for Android. More details about the app are available at www.myomnimoney.com.

OmniMoney by Boost Mobile is not a bank. OmniMoney by Boost Mobile account services are provided by Alviere as an agent and service provider of Community Federal Savings Bank, Member FDIC. Refer to terms and conditions for details. © 2022 DISH Wireless L.L.C. All rights reserved.

About Boost Mobile
Boost Mobile provides award-winning, best-in-class value and connectivity to U.S. wireless consumers on America's largest 5G networks and competitive consumer plans with no annual service contracts. Boost Mobile operates on DISH Wireless L.L.C., a subsidiary of DISH Network Corporation (NASDAQ: DISH), and serves as its largest retail wireless brand. DISH, a nationwide U.S. wireless carrier, continues to innovate in wireless, building America's First Smart Network™. Learn more about Boost Mobile online on Facebook, Instagram, Twitter and YouTube.

1	https://www.federalreserve.gov/publications/2019-economic-well-being-of-us-households-in-2018-banking-and-credit.htm

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/boost-mobile-expands-into-financial-services-arena-with-launch-of-omnimoney--no-fee-digital-checking-account-301661282.html

SOURCE Boost Mobile

FAQ

What is OmniMoney by Boost Mobile?

OmniMoney is a free digital money account and debit card service launched by Boost Mobile, aimed at providing financial services to underbanked consumers.

What are the benefits of using OmniMoney?

Benefits include no fees, no minimum balance requirements, free remittances to Mexico, access to 400,000+ ATMs, and discounts on Boost Mobile services.

When was OmniMoney launched?

OmniMoney was launched on October 27, 2022.

Who is eligible to use OmniMoney?

OmniMoney is available to consumers without credit checks, making it accessible to a wider audience, particularly those who are underbanked.

How can I access OmniMoney?

OmniMoney can be accessed through its mobile app, available on both iOS and Android devices.