T-Mobile on Monday announced a new Pay as you Go plan for customers who prefer to pay by the minute and want to avoid deposits, contracts and credit checks. In other words, it's for folks who need a temporary phone who who don't need one for daily use – like vacationers coming to the U.S. for a quick stay.

New Pay as you Go customers can opt for a $5 one day LTE data pass that provides up to 500MB of data, or a one-week (7-day) pass with up to 1GB of LTE data for $10. Additionally, T-Mobile's new rates cost 10 cents per minute or for each text message. There's a $3 minimum, however, which provides 30 minutes or talk time or 30 messages (or a split between the two.)

T-Mobile said the new Pay as You Go plans will be available starting on Aug. 17.