Boost Mobiles new no-fee banking comes with a surprising number of fees

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 bit...

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