T-Mobile will charge late fees to customers who don't pay their bills on time.

Starting November 1, T-Mobile will adjust its late payment fee policy, charging either 5% or 10% of the overdue balance, whichever is greater. The minimum late fee will increase by 42.9%, from $7 to $10. For balances exceeding $200, the late fee will surpass $10, resulting in a higher percentage increase.

T-Mobile states that late fees will not exceed the maximum amount permitted by state laws. For example, Washington, D.C. has a late fee cap of 2%, Maryland's cap is 1.66%, and New York's is 2.08%. Customers can avoid late fees by paying on time, and AutoPay can automate monthly payments from a bank account.

T-Mobile says the increased late fee aims to encourage more subscribers to enroll in AutoPay to avoid late payments. AutoPay users receive a $5 monthly discount when using a debit card or bank account for payments. The T-Mobile AutoPay support page offers more details.

On November 1, Srini Gopalan will succeed Mike Sievert as CEO. Gopalan will lead T-Mobile's transition to an all-digital carrier, utilizing the T-Life app for plan management, device orders, and accessory purchases.

This transition may involve retail store closures and staff reductions. T-Mobile's executives are promoting the T-Life app to customers and salespeople despite reported issues. The shift aims to increase profits by lowering overhead costs.

This transition could lead to a higher stock price, benefiting executives like outgoing CEO Mike Sievert, who owns 336,221 shares valued at $75.5 million. T-Mobile's stock price decreased by $4.31 to $224.48, a 1.88% drop. Concerns about T-Mobile's transition have contributed to a more than 6% stock decline over the past month.

The article also announces the upcoming release of "Iconic Phones: Revolution at Your Fingertips," a coffee table book about the 21st century's tech revolution.

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