Why do you need my personal information to verify my identity?
Protecting you and your data is our priority, and sometimes that means we need extra information to process an application. Federal law requires that we collect this information so that we can verify your identity and help fight fraud. All financial institutions are required to obtain, verify and record information that identifies each person who opens an account in accordance with the USA Patriot Act. Providing your personal information helps the government fight the funding of terrorism and money laundering activities.
What this means to you: When you open an account, we will ask for your name, physical address, date of birth, taxpayer identification number and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. We will let you know if additional information is required and assure you we are committed to safeguarding your personal and financial information against unauthorized access.
How we protect your money!
- Contact disclosure - Nobody at T-Mobile, BM Technologies, Inc. (BMTX), or Customers Bank will ever contact you to request a password or verification code to your T-Mobile MONEY account.
- Account protection - We use encryption to help protect your account information. If you suspect your account shows an unauthorized transaction, please contact us.
- Encryption and storage - We use encryption to help protect your account details and store that information on servers in secure locations. On the web, a lock next to the web address is your signal that encryption is on.
- Lost or stolen cards - If you’ve lost your card or suspect that it is being used in an unauthorized way, you can disable your card right from your phone. In the T-Mobile MONEY app, go to “My card” > “Report as lost, stolen, or damaged” > “My card was stolen.” When you disable your card, a replacement will automatically be sent.
How you can help protect your money!
Understand the risks:
Remember, anyone who uses the internet is a potential target for fraudsters. Here are some of the more common threats:
- Phishing – A form of fraud where criminals use the internet to send spam or pop-up messages to obtain personal and financial information from victims. These messages sometimes imitate the design of a legitimate financial institution or business website.
- Identity theft – Thieves capture your personal information such as your Social Security number and use it to create new accounts in your name.
- Smishing – Similar to phishing, criminals use text messages to obtain confidential information. The message often attempts to alarm the customer. It may threaten dire consequence if you don’t respond immediately.
- Keylogging – If you access your online banking site on public networks, criminals can use software to record your keystrokes and obtain your account details.
Here are a few tips to help you safeguard your money and personal information:
- Create strong passwords and change them often. This is the first line of defense against hackers so avoid using easy to guess information like your birth date or phone number. Never share your password with anyone. Also, never let the computer remember your username or password.
- Safeguard your computer and mobile devices. Keep your computer up-to-date with the most current anti-virus and anti-spam software, and install a firewall along with anti-spyware software. Change your wireless network default password, as well. Just like your computer, your mobile devices can be susceptible to viruses and malware. Make sure your applications are current, and only install applications from trusted marketplaces.
- Never provide personal information to unsolicited requests. Never provide sensitive information via email or reply to unknown URLs. Make sure the institution you are communicating with is legitimate, and call them directly if you are unsure. Only share personal information with those you trust.
- Avoid using cybercafes or public Wi-Fi networks. Public internet networks are unsafe places to access your online account, so avoid using them.
- Watch out for copycat websites. Don’t fall prey to a website that looks similar to your financial institution’s site. Check the spelling of the URL carefully to make sure you are where you want to be.
- Always log off. While T-Mobile MONEY will automatically log you off after extended inactivity, get in the habit of logging out when you conclude your business.
- Check your online banking transactions and statements frequently. Get in the habit of checking your online account often to track your transactions and reconcile with your own records.
- Shred documents and receipts. Dumpster divers also look for personal and financial information on paper receipts and other documents, so be sure to shred them before discarding them.
- Check your credit report annually. Be sure to review your credit reports annually and correct any errors you may find on those reports. You can order free copies by visiting annualcreditreport.com.
- Report suspicious activity immediately. If you think you are or may be a victim of fraud or identify theft, contact us immediately. Report suspicious emails, texts or calls to the Federal Trade Commission at consumer.gov/idtheft, or by calling 1-877-ID-THEFT.
What to do if you are a victim of identity theft:
- Place a fraud alert on your credit reports, and review your reports. If you suspect your personal information has been used to commit fraud or theft, contact the fraud departments of the three major credit bureaus (see below) and request that a “fraud alert” be placed on your file. At the same time, request a copy of your credit report. Follow up in writing and include copies (NOT originals) of your documentation, such as the police report or your credit card statement with circles around the items in question.
Trans Union: www.transunion.com
- Close the accounts that you know, or believe, have been tampered with or opened fraudulently. Call and speak with someone in the security or fraud department of each company. Follow up in writing, and include copies (NOT originals) of supporting documents. It’s important to notify credit card companies and banks in writing. Send your letters by certified mail, and request a return receipt so you can document what the company received and when. Keep a file of your correspondence and enclosures.
- File a report with your local police or the police in the community where the identity theft took place. Ask for a copy of the report. Credit card companies may need proof of the crime to erase the debts caused by identity theft.
- File a complaint with the Federal Trade Commission. By sharing your identity theft complaint with the FTC, you will provide important information that can help law enforcement officials across the nation track down identity thieves and stop them. The FTC can refer victims’ complaints to other government agencies and companies for further action, as well as investigate companies for violations of laws the agency enforces. You can file a complaint online at www.ftc.gov/idtheft, by phone at 1-877-IDTHEFT (438-4338); TTY: 1-866-653-4261, or by mail: Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580. Be sure to call the Hotline to update your complaint if you have any additional information or problems.
If you have any questions about security related to your T-Mobile MONEY account, you can contact us 8AM–12AM ET, 365 days/year via one of the following ways:
- Secure message – Log in to your T-Mobile MONEY app, go to "Need help?" on the “Home” screen, and select “New secure message” to send a secure message to our T-Mobile MONEY Specialists.
- Call us – To speak with a T-Mobile MONEY Specialist, dial ** MONEY from your T-Mobile device or 866-686-9358. If you're calling from outside of the United States, please dial +1-414-751-6700.