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That's a very good deal. Is that a standard or expensive subscription?

It's their standard ONE plan: $70/month for 1 line, but much cheaper with more (for four lines its $160/month).

Tmobile does have some prepaid plans and older grandfathered plans, but the ONE plan is pretty good, especially at the multi-line rates.

Any carriers do better pricing for a single line with high caps? $840/year on service for a single phone feels crazy to me.

You'd probably need to go with an MVNO plan like PagePlus or Mint SIM.