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WSJ Your Money Briefing

Why Your Phone Carrier Wants to Connect to Your Bank Account

WSJ Your Money Briefing

The Wall Street Journal

News, Business News

3.81.6K Ratings

🗓️ 5 September 2023

⏱️ 7 minutes

🧾️ Download transcript

Summary

Verizon, AT&T and T-Mobile are asking customers to move their monthly bill payments from their credit cards to their bank accounts. WSJ personal-technology editor Shara Tibken joins host J.R. Whalen to discuss why the carriers want the change, the privacy concerns that have been raised about it and the financial trade-offs to consider before you make the switch. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This episode is brought to you by London Business School.

0:03.8

Looking to accelerate your business, or understand the opportunities in AI or ESG,

0:08.8

are you thinking about taking the plunge into entrepreneurship?

0:11.8

Or about what leadership skills will take you to the next level?

0:15.0

To listen to the latest insights and discussion from LBS faculty,

0:18.6

subject experts and industry insiders,

0:21.4

look for podcasts from London Business School.

0:23.8

Navigate the now and be prepared for what's next with London Business School.

0:31.0

Here's your money briefing for Tuesday, September 5th.

0:35.0

I'm JR Whalen for the Wall Street Journal.

0:40.0

If you're like a lot of people,

0:42.0

you pay your monthly cell phone bill automatically through your credit card.

0:45.0

Easy enough, and the rewards you get are in bad either.

0:48.0

But now phone carriers are asking customers to make a switch

0:52.0

and pay their bill directly from their bank account.

0:55.0

So basically they're giving you a $5 or $10 discount per line per month,

1:00.0

or if you were already getting that discount for setting up auto pay,

1:04.0

they're saying, hey, we're going to take that discount away

1:07.0

if you don't switch to your bank account.

1:10.0

So what questions should you ask before making the switch?

1:13.0

We'll find out from our personal tech editor, Shara Tibkin, after the break.

1:18.0

If only life had a remote control.

...

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