Posted by Chuck on August 1, 2016
Checking Accounts

Published on August 1st, 2016 | by Chuck


Major Negative Changes to Mango 6% APY Prepaid Account

Mango Changes

The Mango 6% APY prepaid card has announced two important changes in their terms:

  • New requirements to become eligible for the 6% APY rate
  • Each person can have only one Mango account going forward

Direct Link

The new terms will go into effect on September 1, 2016.

6% Gets Tougher

There are two changes in the requirements to become eligible for the 6% interest rate:

  • You need to direct deposit/ACH $800 into the account. Previously, only $500 was necessary.

So far, nothing terrible; just an extra $300 to cycle through.

  • Any money pulled out of the account via ACH does not count toward the $800 direct deposit requirement. ACH includes bill payments, ACH pulls, or any other form of ACH transaction.

Mango wants us to spend down the money in the account using the linked debit card, not ACHing it out. Starting September, in order to be eligible for the 6% rate, we’ll have to leave the money in the account or spend it down using the debit card.

You can still ACH money out of your Mango account, but if you do, it won’t count toward the $800 requirement, and you won’t earn 6% APY. For example, if you ACH/DD $800 into the account, then ACH $100 out of the account, you won’t earn 6% APY.

On the surface, it would seem the card is completely useless since we all use reward credit cards for daily spending. But as we know, there are many places we can run up spend on a debit card, including PIN-based transactions (money orders, load prepaids), among other debit-only transactions.

Going forward, the only way it would be worthwhile for someone to keep the 6% account is if you have an easy way of racking up $800 in spend each month.

Keep it for the 2%

It’s also worth remembering that Mango does offer a very competitive 2% APY rate on up to $5,000, even if you don’t meet the direct deposit requirement. Consider keeping the account for the 2% rate even if you can’t meet the new direct deposit requirement.

Complicate Things & Win

It’s been noted that if you complicate life a bit, you can still get the 6% rate most of the time.

If you don’t fancy buying money orders, consider ACHing $800 in each month and only pulling out the money once each quarter.

For example, ACH $800 into the account in September, then $800 in October, then $800 in November. After the November deposit clears, pull out the full $2400 via ACH in one shot.

You’ll end up getting the 6% rate for September and October, and the 2% rate for November. Using this approach, you can get 6% APY eight months of the year and 2% the other four months.

Another option is to buy $2400 of money orders quarterly, the idea being to limit the number of times you need to visit a money order vendor. Using this approach, you’ll get the 6% rate the entire year.

Neutering Multiples

The other change soon to take place is that each person is limited to having just one Mango Savings account; previously, it was possible to have multiple accounts. You can continue have more than one Mango prepaid card account, but only one Savings account.

The account which had the highest daily balance during June 2016, will remain open, and the others will be closed down with the balance transferred over to the connected prepaid account.

Final Thoughts

In the end, some people will find it easy to manufacture $800 in debit card spend, and others will find it hard. That will be the deciding factor for most as to whether they keep Mango or let it go. Some might opt to retain it for the 2% rate or to do the every-other-month approach.

First Netspend died, now Mango is much less lucrative. Sigh. Not many easy options remain. See the post “Which High-Interest Savings Account Should I Get?” for a roundup of other high-yield options.

Hat tip to reader Don and to this Reddit thread 

157 Responses to Major Negative Changes to Mango 6% APY Prepaid Account

  1. Frank says:

    Don’t quite understand why you need to do a $2400 MO. Will an ACH pull work for this case? Depositing a $2400 MO is both risky and quite a hassle.

  2. Jusmin says:

    Would this work to trigger the 6% and minimize MS methods.
    1. You transfer in $800 in September, leave it until October, then ACH it out
    2. ACH $800 middle of October and leave it until November
    3. Rinse and repeat each month

    In my head this makes sense as each month you are pulling $800 out and leaving it in at same time! Let me know what you guys think

    • Lrdx says:

      I think they count the DD minus ACH each month, regardless of balance. With your approach, you’re still depositing 800 and pulling 800 each month, 800-800 = 0, so no high rate.

      • Jusmin says:

        I see, then how about bringing in $1600 and removing $800 each month which would mean you just have to be able to float $800 in your account monthly for life.

        • Jusmin says:

          Well just realized then you will still get +$800 each month that needs to be removed, I guess the only way to do it is to buy money orders once in a while to cash out if you want all 12 months to be at 6%

  3. anthonyjh21 says:

    Wonder if Google Wallet will work. I see in the Reddit thread people are already looking for ways to maximize under the new rules.

  4. Wyle says:

    In your example, why ACH $800 into the account in November? You’re foregoing the 6% interest, so just ACH out the $1600 from Sept and Oct. Or collect the interest for Nov and ACH out the $2400 in Dec.
    Am I missing something?

    • Rebecca says:

      If you don’t want to ACH money in every month, you’d either have to stop and restart automatic payments, or not be making automatic payments at all. You could do it the way you said, but you’d have to do more manually.

    • Chuck says:

      Wyle, I miswrote something there. Fixed now.

      • Ya says:

        Why we have to withdraw money quarterly? How about we deposit $800 each month in six months and withdraw money in the next month? Is there a withdraw amount limit for a month? As I know, the only reason to do it quarterly is: Have to withdraw money in two transactions (due to $2500 per transaction limit) ?

  5. Harry says:

    Use Square Cash to unload?

    • me says:

      Has someone tried this? Wouldn’t square cash be seen as a debit card transaction?

      • Chuck says:

        Yes, I’d guess it will work.

        • Erik says:

          It will not work. Square cash doesn’t allow prepaid debit cards.
          (If you try to add it, you will get a message: “Can’t use pre-paid cards”).

          p.s. Google Wallet doesn’t allow it either.

          • Chuck says:

            Ah, yeah, that sounds right.

          • Don says:

            Nor does Circle (I believe – card linking just stays in Pending State). Prepaids are excluded in their terms.

            But if anyone is willing to share an online money transfer service that does allow Mango prepaids … that would be awesome!

            I understand the chance of someone replying to this comment is almost zero, but I had to give it a shot 🙂

  6. IOException says:

    I fail to see how using the debit card would be useless…

    Wouldn’t the returns still far exceed a typical 2% general category rewards card?

  7. General Revil says:

    Three solutions are:

    Unload every fourth month (max APY without MS):
    Sep: 800 in 6%
    Oct: 800 in 6%
    Nov: 800 in 6%
    Dec: 2400 out 2%

    Unload once a year (max interest without MS, but at greater opportunity cost):

    Unload $1000 – cost of MO four out of every five months (Max interest, requires effort).
    Sep: 800 in 5800 balance
    Oct: 800 in 1000 MO out 5600 balance
    Nov: 800 in 1000 MO out 5400 balance
    Dec: 800 in 1000 MO out 5200 balance
    Jan: 800 in 1000 MO out 5000 balance
    Feb: 800 in 5800 balance.

  8. tbradnc says:

    If it were just Mango I’d be willing to do a few contortions to keep the 6% but the prepaid space in aggregate has been changing for the worse. Now with both Mango and Netspend having negative changes I feel like I’m squatting mosquitoes buzzing around my head. I’m moving on – which is what they want.

    • Tomtoo says:

      Don’t forget, there’s still Insight. I have managed to open 2 accounts with them before they stopped me (wife also…4 accounts total between us).

      • JILL says:

        What do you mean by saying “before they stopped me”?
        Do you still have 4 accounts total between yourself and your wife, in which you earn 5% APY in the Insight Savings Accounts?

        • Tomtoo says:

          So sorry for not responding sooner. Thought I was subscribed for notifications to this thread, but haven’t gotten them.
          Wife and I still have 4 accounts between us. The way they “stopped” us was when applying a third time and hitting “submit”, I got a notice stating something along the lines of being unable to open a new account.
          We are still earning 5% on all 4 accounts.

      • Ben says:

        @Tomtoo, how did you do 2 accounts? Use anything different? i.e. Tom and Thomas; different addresses; etc? Thanks!

        • Tomtoo says:

          So sorry for not responding sooner. Thought I was subscribed for notifications to this thread, but haven’t gotten them.
          I gave the exact same information for both accounts. Hope you have been able to do the same!

    • Don says:

      I think that I’m going to drop out of the Mango game too at least temporarily. Remove all funds from the savings account and card balance.

      Does anyone know if there are any negative effects if I drop my card balance to zero? Does the card then just sit with no fees?

  9. Matthew says:

    I have been ACH $500 into my mango account and going to a place that allows large withdrawals with purchases. IE I go to walmart ring in 1 banana and get $100.00 cash back with my purchase. Times by 5 and I have ACH in/out effectively

    • dbaseballfan says:

      But you need to ACH 800 to get 5% right? does this method work to keep the 5%? Seems like a simple solution if debit cashback works

      • Eric says:

        He wrote this comment in August before Mango changed their rules. Also, the rate is 6%, not 5%.

        • dbaseballfan says:

          Ok thanks, but that doesn’t answer the main question of whether debit cashback at the grocery should allow to keep the 6%.

          • Eric says:

            I would have answered you but unfortunately I don’t know the answer as I’ve never tried it.

            I wouldn’t count on dbaseballfan responding back as it’s a rarity for people to reply back on DoC and since that comment was from almost a year ago it’s even more unlikely.

            Why not try it yourself and see what happens?

          • Eric says:

            I should have written “Matthew” rather than “dbaseballfan”.

  10. Kathy says:

    You fail to mention the $3 monthly fee on the Mango card. This eats up some of the interest received.

  11. Prand says:

    serve or bluebird still allows for debit card loading?

  12. kt says:

    will it cost a chexsystem pull to open a Mango saving account?

  13. Steph says:

    Do you still earn 6% if you have $5000 in the savings and $1+ in the checking?

  14. Peter says:

    Why are you suggesting to pull the money back every 3 months? Why not every 7 or 8 months? I understand one has to keep pushing 800 every month and won’t be earning interest on that money that’s being pushed (assuming one has hit the 5k already).

    • Chuck says:

      Doing it once every 6 months is also an option (max $10k in the account). Really have to run the numbers to see when the APY is best. I didn’t do the math.

      It also depends on what you’d otherwise be doing with the money.

  15. Erik says:

    I would like to keep $5K in the Savings for max interest. However, I do not want to leave money in the card account as I can get at least 2.25% on it elsewhere (e.g. Main Street Bank).

    Thus, why not just go to your local bank and get a cash withdrawal from your card. I believe that this is free (ATM cost $2.00). The only issue is that you need to do this twice/month as the max daily withdrawal is $600 (e.g. $600 day 1 and $200 day 2)

    Alternatively, go once a month the first two month and twice in the third month (leaving $200 month 1 and $400 in month two; cost in lost interest is a bit more than $0.375 in month 1 and $0.75 in month 2., depending when in month 3 you do the 2 withdrawals) .

    p.s. Don’t forget to withdraw $800 from the Savings at the end of August so that you can deposit it again in September w/o having to worry about a Sept withdrawal; only the $800 ACH deposit)

    • Chuck says:

      If you can withdraw free, that would work. I’m not so sure it will be free, though.

      • Erik says:

        The are no fees listed in Mango’s disclosure and my banks have never charged a fee for a “cash advance”.

        • Chuck says:

          Let us know if it works for you. I wonder how much you can withdraw in a shot.

          • Erik says:

            As I mentioned above; $600/day.
            I can do it twice a month, but my wife is not too happy about it ;-(.

            I wish that Mango would allow a secondary card in my name on her account. Then I could withdraw from both accounts while at the bank.

          • Erik says:

            Some more info:
            Per TOC: Cash Withdrawal Limitations. You may not make cash withdrawals that in the aggregate exceed $600.00 per day; however, the $600.00 daily limit is subject to additional limitations imposed by merchants, banks and ATM operators.

            I talked to the escalation dept, and was told that the max cash advance at a bank is actaully $2,500. However, there is a $50 fee (not mentioned in the TOC)!!!
            I suggested some test that she agreed with:

            TEST1: Test $50 fee:
            $500 on card; request $500 in Bank. According to rep it will be rejected as $550 is required.

            If *not* rejected (i.e. no fee), then do TEST2:

            TEST2: Test amount > $600:
            $800 on card;request $800 in Bank. According to rep it should be allowed (except for the fee)

          • Erik says:

            UPDATE: TEST1 failed :-(.

            I tried to withdraw the balance on my card (except for a few cents) in my bank.
            The transaction was declined. I called Mango the following day and after checking with the escalation department, I was told that the transaction was declined because I didn’t have an extra $50 to pay for the Mango Bank fee.

            Thus, it seems that the least expensive method to w/d (except for ACH) is still money orders.

  16. Dave says:

    The optimal strategy using only ACH depends slightly on the interest rate you can get externally.
    If it is = 1.05% then deposit $800 for 6 months

    Either way, you should withdraw down to $4196.04 in the next month. This will allow an extra $800 to receive the external interest rate for 7 or 8 months rather than just getting the extra 2% on it for 1 month and then 0.1% for 6 or 7.

  17. Mel says:

    If we follow the quarterly or 2x per year withdtawl method, are we allowed to move the monthly sitting $800s over to the savings account without it being counted as an ACH? At least the pennies in over 5K interest will help offset the monthly fee. This would only be useful to those of us who don’t want to use the Mango debit card for purchases (have other account cards that have priority).

  18. Corey says:

    According to my math, you can still get a 3.6% annual return on an average monthly amount of $5,286 for a two year cycle. This does assume that you can get a 1% return in another account that isn’t related to Mango.

    Here is my work that goes through exactly how much you need to deposit and withdrawal every month to get this highest effective interest rate possible in a two year cycle (copy and “paste special” into Excel with “unicode text” to look at it more clearly or just note the “Mango Deposit Amounts” in order [negative amounts are withdrawals]):

    Month 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
    Mango Fee $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00
    Mango Deposit Amount $4,490.41 $810.60 ($1,822.87) $1,482.20 ($1,999.27) $1,153.43 $801.22 $800.58 $800.88 ($2,604.26) $903.97 $806.36 ($3,312.87) $1,672.38 $801.32 $800.85 ($1,733.99) $885.39 ($1,751.12) $906.81 $800.58 $800.10 $800.16 ($6,664.99)
    Mango Account Balance $4,487.41 $5,317.45 $3,516.58 $5,001.64 $3,024.37 $4,179.84 $4,998.96 $5,821.53 $6,644.41 $4,062.15 $4,969.89 $5,798.10 $2,507.24 $4,180.80 $5,000.02 $5,822.87 $4,110.88 $5,000.12 $3,271.00 $4,180.26 $4,998.74 $5,820.83 $6,642.99 $-
    Interest on Mango $22.44 $25.00 $5.86 $25.00 $5.04 $20.90 $24.99 $25.00 $25.00 $6.77 $24.85 $25.00 $4.18 $20.90 $25.00 $25.00 $6.85 $25.00 $5.45 $20.90 $24.99 $25.00 $25.00 $-
    Interest on Uninvested $0.43 ($0.26) $1.24 $0.00 $1.65 $0.68 $0.00 ($0.68) ($1.37) $0.78 $0.03 ($0.67) $2.08 $0.68 $0.00 ($0.69) $0.74 $0.00 $1.44 $0.68 $0.00 ($0.68) ($1.37) $4.17

    Total Interest $381.00
    $5,000.00 $5,317.45 $5,000.00 $5,001.64 $5,000.00 $5,000.00 $5,000.00 $5,821.53 $6,644.41 $5,000.00 $5,000.00 $5,798.10 $5,000.00 $5,000.00 $5,000.02 $5,822.87 $5,000.00 $5,000.12 $5,000.00 $5,000.00 $5,000.00 $5,820.83 $6,642.99 $5,000.00
    Average Balance $5,286.25

    Return 3.60%

    • Tim says:

      Thank you for this analysis.
      The problem seems easy on the surface, but becomes quite complex once adding the opportunity cost of earning 1% somewhere else.

    • John says:

      How much do you deposit and withdraw each month? link to google doc since paste is not working.

      Tim- Plenty of online accounts like Discover, Ally give you 1%.

      • Corey says:

        It isn’t on a Google doc, but I’ll summarize it here. Basically you get the highest return if you do the following in a two year cycle:

        Month 1: Deposit $4,490.41
        Month 2: Deposit $810.60
        Month 3: Withdraw ($1,822.87)
        Month 4: Deposit $1,482.20
        Month 5: Withdraw ($1,999.27)
        Month 6: Deposit $1,153.43
        Month 7: Deposit $801.22
        Month 8: Deposit $800.58
        Month 9: Deposit $800.88
        Month 10: Withdraw ($2,604.26)
        Month 11: Deposit $903.97
        Month 12: Deposit $806.36
        Month 13: Withdraw ($3,312.87)
        Month 14: Deposit $1,672.38
        Month 15: Deposit $801.32
        Month 16: Deposit $800.85
        Month 17: Withdraw ($1,733.99)
        Month 18: Deposit $885.39
        Month 19: Withdraw ($1,751.12)
        Month 20: Deposit $906.81
        Month 21: Deposit $800.58
        Month 22: Deposit $800.10
        Month 23: Deposit $800.16
        Month 24: Withdraw ($6,664.99)

        You’ll then end up with a zero balance and you can repeat.

  19. captainsave says:

    This starts in September right? On their site it already say $800 is needed and i only got $500 deposit. The other $300 wont reach until 9/1.

    • booya says:

      my interest came in at 2% this month because I only had $500 in DD, not the $800 required per the new terms and conditions that aren’t supposed to start until 9/1… boo, Mango!

      • says:

        Mine came in at 2% too. I even called them earlier and was told the $800 starts tomorrow.

      • Erik says:

        I was just going to post the same thing! Something else is wrong though. My friend received $1000 in DD and withdrew $1000 by ACH. She still received the 6% for August.

        I called Mango and they sent a request to the escalation team to contact me in 24-48 hrs since they are not available at night…

        • captainsave says:

          Im on the phone with them explaining to him that it under $5000 for the 6% rate not over $5000. Now i am on hold. Haven’t even get to the real problem yet. Not a good sign when i have more knowledge then the person who is supposedly helping me.

          • anthonyjh21 says:

            I know first hand exactly what you mean. You have to wonder if they just pulled people off the street in the Philippines, had them read 30 minutes of background for Mango, and then give them a headset and say good luck.

        • anthonyjh21 says:

          Please keep us updated.

      • dax says:

        mine too, i also checked for July and it was also 2%. June was 5% and nothing has changed in my account

  20. Erik says:

    Did anyone have problems transferring out $5,000 from their card using ACH debit?

    I tried to withdraw using ACH debit of $4,999 on the two cards that I expect to be closed. They were rejected.

    I had transferred $5,000 on 9/1/16 at 12:01 AM (EST) and the ACH debit request came in around 12:30 AM.
    The rep claimed that there is a $5,000 limit on the total amount of transactions in a 24 hr period and that is why the ACH debit was rejected. I asked him to show me where in the TOC this is stated. After 30 min he came back and said that they approved the transfer…..

    p.s. I checked my 2nd card, and now that ACH Debit was also “automatically” approved, and so were my friend’s two $5K ACH debits… I wonder if he was giving me some BS because they had system issues and that was resolved when I was on the phone with him.

    • Chuck says:

      I guess there is some system limit. I did $2k at a time successfully.

      • Erik says:

        Well, as I wrote above, after I talked to CS, the transfer completed. Also for my friend who also had a ACH debit of $4999. However, she never called them

    • forestation says:

      Similar story here. Attempted to ACH about $5,100 out of my Mango account. Called in after transfer was rejected.

      The clueless agent I spoke to claimed initially that transfers were only allowed to credit cards (huh?). After I protested, he checked with his supervisor and said there was a $5,000 limit on outward transfers. I protested again, pointing out that the customer agreement makes no mention of limits on outbound ACH. I insisted on speaking to the supervisor, and was put on hold.

      After about 10 minutes he told me the “card services department” had manually approved the transfer. I checked my other account and a similar $5,000+ ACH was released at the same time.

  21. Simple says:

    “The account which had the highest daily balance during June 2016, will remain open, and the others will be closed down with the balance transferred over to the connected prepaid account.”

    I still have multiple accounts open. No balance was transferred. I thought this was suppose to be done automatically on their end.

  22. Eric says:

    I just checked my account and no interest has posted to my account at all for July. Did anyone else run into this issue?

    • Octavio says:

      July or August? I think most of us are having problems with the interest rate that posted last month. On my account, I only got 2%, even though I fulfilled the $500 ACH deposit. My wife, on the other hand, received no interest whatsoever – she also completed the $500 deposit. We called Mango separately and they seem to be aware of the issue. They told me they’d be escalating my issue and it should be resolved within 2 business days. My wife was also given the same turnaround, but they did not mention an escalation.

  23. LG says:

    I only got 2% for August instead of 6%. I just called and they said they would fix it within 24-48 hours.

  24. Erik says:

    I checked my accounts earlier today (9/2/16) and $16.39 were added to the 2 accounts that I expect to be closed (and they only had a few dollars balance in the Savings).

    The account that I expect to remain open has almost $5K, but it didn’t get the extra deposit at that time. A few hours later, this account also got the extra deposit.

    Exactly the same thing happened to my friend.

    p.s. Note that the Saving Statement doesn’t show the extra deposit [yet]. The displayed Savings Balance is $16.39 higher than on the Statement.

    • Octavio says:

      I think Mango probably wrote a script to credit everyone $16.39 regardless of the balance held in the savings account. The $16.39 corresponds to the 4% missed; when added to the original amount given ($8.46), it brought the total interest to $24.85, which is what I was expecting.

      The funny thing is that my wife got 0% last month vs. 2%, so now we must call Mango because she got the $16.39, but not the original 8.46. I love Mango (the fruit); the bank…not so much.

  25. Swapnil says:

    will this work?

    Setup Repeating transfer $ 803 at the end of every month and withdraw it first week of every month

    This way you are depositing 803 each month and withdrawing 800 each month satisfying its condition to have 800 or more in any calendar month??

    • Erik says:

      No, it will not work. The following month you will only have deposited $3 (-$800 at the beginning of the month and +$803 at the end)

  26. Rob says:

    Anyone else still have more than one Mango savings account still open? I keep checking both of my Mango accounts to see which one they decide to close, but it’s now the 28th and everything is still the same.

    • Ted says:

      Mine is closed today. They chose to close it near the end of month, so they do not need to pay interest for September. I will have $3.70 net loss ($3.00 monthly fee + $0.70 money order fee) for $5,000, so instead of 6.0% APY, I will earn -0.9% APY this month 🙁

      • Erik says:

        was your Savings truly closed or did they just move the money out to the card? I was able to move it back (I had less than $2), thereby opening the Savings again.

        • Ted says:

          It was moved to the card, and the only option in the Savings tab now is to open a new one. Maybe I’ll reopen it in October and play around with it, but I won’t hold my breath.

  27. Erik says:

    I had a $1.50 in the two accounts that I expected to be closed. On 9/23/16 Praxell moved the money to the card account. I moved the money back…..I wonder if I will get 2% interest (I didn’t make the $800 net deposit)

    However, they did not move the money in my friends two extra accounts! Not sure why my extra accounts were treated differently.

    @Rob, did you satisfy the $800 net deposit in all your accounts and will have at least $1 in Savings at the end of the month? I am curious to see if you get 0%, 2% or 6%…

  28. Erik says:

    Could you guys please share your experience regarding your Savings interest for September.

    I had $5K in my original account where I had made $800 ACH net deposit. I received the expected 6.01% yield ($24.05).

    In my other two accounts I had $1.85 & $1.03 and I didn’t make the required $800 ACH net deposit.
    Despite this, I received $0.01 interest in both accounts. The yields were listed as 5.01% and 6.18%!?

    Did anyone make the required $800 ACH net deposits in the extra accounts? What yields did you receive?

    I wonder if I would get any interest for October if I put money back in the extra accounts…??

    • Rob says:

      I didn’t satisfy the 6% requirements for either account since I couldn’t be sure which one Mango would decide to cancel.

      However I did receive the correct 2% interest on both accounts, and my second account is still going strong. I’m guessing Mango is manually going through accounts to find duplicates which just means I’m lucky so far. I’ll prepare to fulfill the $800 requirement for both accounts this month and just see what happens.

  29. RA says:

    Tried to get the higher rate in September and October and got ripped off both months. Mango Card is a scam now. Withdrew all my funds.

    • RA says:

      Correction: Got ripped off in October with 2% interest and really ripped off in September with 0.1% interest despite the $800 deposit. Not going to get screwed anymore.

  30. Chris says:

    I’m canceling my Mango accounts (one is mine and the other is my wife’s). I decided to leave them at $0 for a few months due to the negative changes and since I needed the cash elsewhere. This month I thought I’d try out a scheme to earn the interest in one account every other month. So, I transferred a few thousand into one account and immediately got hit with 3x$3=$9 in fees due to past monthly fees that were not able to be taken out due to my $0 balance. I decided it wasn’t worth dealing with them anymore so I’m transferring the money out at a loss and canceling the accounts. Just wanted to warn others if you’ve had a dormant account. Beware of fees waiting for you!

  31. Jeremy says:

    This stinks… I wasn’t even aware of it until I saw this post. I may just cancel with these guys to avoid the hassle of it all…. especially with the $3 fee.

    • Jeremy says:

      After forgetting about the monthly fee and getting dinged again, I opted to transfer money out and am in the process of closing out my account. Not worth all the hassle. To make it ‘easier’ vs waiting for a paper check, I transferred all the savings to my prepaid card account and setup several transactions ($1700 is the max transfer out per transaction) to move the money into my personal account. Will be relieved once this is over with. It was a nice run while it lasted…

  32. Anita says:

    I just tried to ACH pull $5100 to Ally from Mango and Mango declined the transaction. I called Mango and CSR said limit $2500 per day for ACH pulls. Meanwhile Ally put a block on transactions to/from Mango. I called Ally to lift that block but “that department” doesn’t open until 8AM. So have to call back. After the block is lifted, I’ll re-issue a pull for $2500. Grrrrrrrrrrr.

    • anthonyjh21 says:

      I thought it was a $1500 daily limit. I’m actually surprised to find out it’s $2500. Either way, thanks for the data point though. Confirmed my suspicions that w/d the entire amount in one pull might cause issues.

  33. ss says:

    Yeah this sucks. I initiated a pull through discover – $4000 transfer from Discover to Mango and it was “returned.” Got dinged with $15 discover returned transaction fee. Booo

  34. ss says:

    I mean $4000 transfer INTO discover, pulled from Mango** and that was returned due to some unspecified withdrawal limit.

    I’ll try it 4 x $1000 transactions I guess.

  35. Jake says:

    You can still get a 3%+ interest rate from this which is comparable to some of the mega high interest credit unions. Just set up an automatic transfer from Ally to push $800 into the account one month and then pull it back the following month. This will leave your account alternating between 6% and 2% which will leave you with an APY of 4%. Accounting for the $3 monthly fee, you will earn an effective APY of ~3.3%.

    • anthonyjh21 says:

      Exactly what I do. Push around the 23rd one month and pull 1st of next. Yeah I’d love 6% but I’ll take 10k (wife and I) at 3% without requiring any work.

      • Jake says:

        I’m glad to see it’s working for you. I haven’t implemented this yet but all my other 5% accounts are filling so fast (Insight, NetSpend, Western Union, etc)

      • Jake says:

        I’m glad to see it’s working for you. I haven’t implemented this yet but all my other 5% accounts are filling so fast that I might have to.

  36. Rob says:

    Head’s up to everyone: Check your transactions and make sure you weren’t charged the $3 monthly fee twice. I logged in today to make sure the interest posted correctly last month and noticed that I was charged the fee twice, once on 2/28 like normal and again on 3/6 when my direct deposit hit for the month.

    I called in and the CSR refunded the second fee without any fight – just watch out.

    • Jim says:

      Thanks for the heads up — I just noticed they charged my account twice, as well, but refunded one of them immediately:

      Feb-28-2017 Fee Credit: Monthly Fee $3.00
      Feb-28-2017 Fee: Monthly Fee $3.00
      Feb-28-2017 Fee: Monthly Fee $3.00

  37. Erik says:

    Did anyone get their March Interest?
    I didn’t… I called CS and he agreed that I should have received it.
    He thought that it may be a system issue and escalated……

    • Anita says:

      I also didn’t get my March interest… I hope your call to them resolves a more system wide snafu. Thanks.

      • Ben says:

        Also, didn’t get mine. Would you mind updating when/if you hear back from them?

        Side note, also didn’t receive interest in my Netspend accounts.

  38. dan says:

    Friend and I did not receive our interests for March 2017 either.

  39. Tomtoo says:

    Just got off the phone with them. She put me on hold a few minutes to check with a manager…said I did qualify for the 6% interest and will receive it. “This is a system wide problem, and we are working on it to resolve the problem as soon as possible”

  40. Erik says:

    Seems to be several issues.

    Now I also got an error when trying to log in: “Internal General Failure. Please try again later or contact your system administrator (P70000)”. CS suggested that I try to refresh my cage….. Anyway, I was able to login 10 min later.

    She also assured me that the missing interest was a known system-wide issue and it will be corrected in 24-48 hrs.

  41. tinker25 says:

    Mango has no issues deducting fees, but with problems giving out interest, not the 1st time it happened on interest. Sad that customer has to call.

    FYI – Last month I did not get the 6%, as a trial, I had net into acct < 800.

  42. Rob says:

    As of this morning the interest posted to my account – looks like they fixed it.

  43. R says:

    Has anyone tried ACH in $800, and then purchasing $800 money order at post office? Don’t know if they accept Mango, but if they do, their fee is $1.60. That plus $3 monthly fee should leave $20.40 interest, or 4.9% APR. Am I missing something?

    • Tomtoo says:

      That’s what I do, except at Walmart since MO’s are only .70

      • R says:

        Thanks Tomtoo. Is there any downside to this approach? It seems like it is simpler and yields a higher return than the ACH in/out techniques outlined by others. I got the card at the end of March, loaded it (ACH from Chase) with $850, moved $800 to savings, and haven’t done anything else with it yet. They credited me with a few days of 6.05% interest on April 3. I had wondered about getting money out once it is fully loaded – thanks for sharing your experience. I know others say you are limited to one card – do you have experience with this (maybe for spouse and other family members)?

        • anthonyjh21 says:

          Yeah, there’s a downside. ACH is automated and requires 5 minutes to set up once. Going the MO route will take longer. Only you can decide which option is right for you. I don’t have the spare time so I’ll take a lower APY in exchange for a set it and forget it approach.

          FYI I move my $800 into Mango within a week before the month ends and it’s pulled the following month. There’s nothing in the fine print about it needing to be in there all month so there’s no point in loading it until near the end of the month.

          • R says:

            Thanks anthonyjh21. I’m new to this type of card, and this board. I appreciate everyone’s insight!

        • Tomtoo says:

          anthonyjh21 stated it well. To answer your other question, my wife and I were each able to get our own cards, at the same household address and even the same email address.

          • anthonyjh21 says:

            I completely missed the part about asking about more than one account. I also have an account for my wife. At one point we had four accounts (two each) before they forced us to just one per SSN.

            On a side note if R is reading this, I’d personally keep at least $10 in there at all times (in the prepaid checking side). Mango has been known on more than one occasion to have errors with overcharging fees. I’d rather keep a few extra dollars there and prevent any rejected ACH requests.

  44. Erik says:

    Did anyone receive 1099-Int for their Savings accounts? I didn’t receive anything and CS is clueless…
    I think that the Bank, SUNRISE BANK / UNIVERSITY NATIONAL BANK, must send that out by law?

    • Erik says:

      Never mind; I just found an E-mail from them where I can download the 1099-Int.

      However, the account numbers on the 1099 and the card account don’t match. Probably because the Savings and Card (“Checking”) Accounts have different numbers.

      Interestingly, the account numbers on the 1099 match for the Netspend and Insight cards.

  45. R says:

    Does anyone have experience with Mango in terms of needing to do other kinds of activity? In particular, will Mango tolerate you if all you do is ACH money in and money order it out, or do you have to periodically purchase something with the debit card, or do some other kind of activity? I recently got an Insight card (haven’t done anything with it yet), but I read somewhere that you have to use it occasionally to satisfy them, or they will close your account.

    • anthonyjh21 says:

      Can’t speak of MO but I’ve never used the Mango debit card and I’ve had no issues. As far as Insight, I have reoccurring automatic transfers of $1 per month from Ally Bank to satisfy any requirements.

  46. e says:

    Mango Visa debit not working today at usps for 1000 mo or 500 mo. Anyone else having problems getting mo at usps lately?

  47. Dennis says:

    Same probem with Mango today at P.O. – tried $480 MO & was declined. Glad I had a backup debit card as I had already used a $500 GC for a $1000 MO. (500 + 480 + 20, don’t like to go 500 on Mango)

    • e says:

      thanks for the response. hope this is a temp glitch

      • Eric says:

        Did you try it anywhere else?

        • e says:

          yup, worked fine as debit at grocery store after p.o. fail.

          • e says:

            Mango CS said they could not see an attempted charge at PO. Everything fine with card.

          • e says:

            and PO employee put his own debit card thru just after mango 2 fails to check to make sure system was working. he got his $20 mo no problem.

          • Eric says:

            Isn’t Mango a Sunrise card? Maybe the USPS hard coded against that like they did to Metabank Visa gc. Did you try any other brand of card at the USPS recently?

          • e says:

            “and PO employee put his own debit card thru just after mango 2 fails to check to make sure system was working. he got his $20 mo no problem.”

    • Eric says:

      Can you clarify what you mean by this: “don’t like to go 500 on Mango”? I don’t know of any limit that Mango imposes on purchases.

      • Dennis Livingston says:

        I seem to remember reading in the past about issues with $500 debits and over (maybe with the previous company that owned Mango). I myself had issues with $700 or $750. So I usually keep my Mango debits under $500 just to be safe. May be unnecessary but I always like to fly under the radar.

  48. e says:

    has anyone been back to PO to try again?

  49. e says:

    Dennis thanks for the update. Was going to try again this week but does not look good for us.

  50. e says:

    on the brighter side WM still works for mo.

  51. greedy says:

    I tried again at post office and did not work.

  52. greedy says:

    I went to walmart yesterday and they started checking ID and the money order machine is always down

  53. Doug says:

    off topic , did you guys get march 2017 interest credited to your account? mine did not

  54. Sam says:

    I just opened my account and have a balance $10 in card and $4800 in savings. Where can I see the accrued balance in the website?
    Also what is the most affordable place where we can get the money order? Thanks in advance.

    • Tomtoo says:

      For savings, click on “savings” on the top menu, then “open statement” next to the green “transfer” button.

      Walmart is cheapest around me at .70, max $1000. If you are going the money order route, you can save yourself some extra hassle and do the $800 DD toward the end of one month, then another right at the beginning of following month, then get 2 $800 MO’s together on your next trip out. That way you only have to go get MO’s every 2 months.

      • sam says:

        Thanks for the information on MO and trick to avoid hassle and about interest accrued. So we have to wait until end of the month to see how much interest we got from last month? I guess that works too. Thanks!

  55. Tomtoo says:

    “…So we have to wait until end of the month to see how much interest we got from last month?…”

    No – the “open statement” button shows what happens DURING the present month also. So, you should be able to see your interest shortly after it’s posted. Of course, if you know your balance before the interest is posted, you could just look near the top right of your welcome page after the interest is posted and see the new balance and figure the difference.

  56. NoonRadar says:

    Has anyone recently (like this year) tested billpay from a credit card’s site (using Mango’s routing & account nr) to see if this negated the 6% interest? We know ach-ing from a checking does, just wanted to confirm bill pay.

    I did a ctrl+f for billpay and bill pay here and on the other Mango thread ( and didn’t come across any reported data points in comments.

  57. Erik says:

    It appears that there is a way to reduce the $3.00 monthly fee now!

    My card account only had a few cents at the end of the month (6/30/17) and those were charged as “monthly fee”. There was no additional charge after my ACH was credited.

    In the past, there was no fee charged if the balance was < $3.00 and the $3.00 fee was instead charged when the ACH credited the account.

    Maybe it will be "fixed" next month…..?

  58. Erik says:

    We discussed this in the original Mango thread.
    A minimum of $1 is required in the *Savings* account to receive any interest.
    As I mentioned above, I have always only kept a few pennies in the card account (and I have received my Savings interest)

  59. Dan says:

    I had some small amount left in mango when i closed it down. No check after 12 weeks…

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