Boost Mobile’s new no-fee banking comes with a surprising number of fees
by Allison Johnson from The Verge - All Posts on (#655XX)
Why stop at wireless services when you can add a side of finance? | Image: Boost Mobile Dish Network-owned Boost Mobile is getting into financial services with the launch of OmniMoney, a basic banking service aimed at people who can't access traditional bank accounts. It's a service that Boost CEO Stephen Stokols hopes will make the brand stickier to existing customers" and attract new ones. This comes at a time when the company very much needs to attract new customers, as the Boost brand continues to lose subscribers and Dish is struggling to get a viable 5G network off the ground. At least part of that plan includes offering basic no-fee banking services" - except, well, there are fees.
To be clear, Boost Mobile is not becoming a bank. It's licensing the service from a company called Alviere, which handles the banking...