Many readers were alarmed today when they got a text from Mango indicating that their entire savings account had been transferred to the prepaid card. Some also had trouble logging into their Mango account.
Mango has belatedly sent out an email indicating that they are switching the backing bank on the savings account:
Important Mango Update: Savings Account Transfer
We are in the process of transitioning the Mango Savings account from the old bank to the new bank. If you receive a text message stating that your balance has transferred to your card this is the reason. We will update you with more information shortly.
Mango used to be with First Bank & Trust, then switched to Sunrise in 2015, then switched to the current backer Metropolitcan Commercial Bank in December. Seems they are keeping the prepaid card under MCB, only switching the 6% savings account.
According to the Mango user agreement, the prepaid card is under Praxell, not under MCB. This is pretty weird because Praxell isn’t even a bank. I’d guess Praxell has some bank backing which makes it FDIC insured, but we don’t know much at this point.
Presumably, old members have their savings account under MCB and are now getting shifted to the new Praxell backer.
I have one of the new Mango Mastercards. It worked around July 4 meaning I was able to buy two money orders from Walmart with it.
I transferred $800 to the spending account earlier this week and I went to Walmart yesterday to buy a money order. The transaction was rejected. I am 100% certain the money was in the spending account and I used the correct PIN.
Has anyone else experienced this?
I just went to a coffeehouse and successfully paid with the Mango card. The difference between today & yesterday is I didn’t have to enter a PIN today but had to enter one yesterday.
Does Mango no longer allow PIN transactions?
Update #2: I ran out of meat for my BBQ so I went to Safeway to buy some. I used Mango there and the transaction required a PIN code. The transaction went through. So now it seems like there is something about Walmart and PIN codes that is the problem. Maybe Mango is cracking down on using money orders to get your money out of the spending account.
Hi, I apologize for posting this in the latest 3 Mango-related articles here, but I’m hoping that someone can help me.
I’m at the end of my rope here in terms of Mango. I asked them to close my account on May 2nd after transferring all my funds into the card portion of the account and they said they did so and I would be receiving a check for remaining balance within 4-6 weeks. It’s now over 8 weeks later.
I’ve called their 1-855 number several times and continue to receive conflicting information. I should apply for their new card, then they can transfer the balance (today now they said that’s not possible). They said they would escalate it several times and I would have an update if I call back in 24-48 hours. Not true. Now they are saying the holds are longer from their ‘higher department’.
I’m sick to my stomach thinking this is a scam now after having used them for 2 years and transferring in/out money (which I no longer can do since the account is closed…trust me…thought of that and tried it). What can I do???? Is anyone else experiencing this? Please help. I’ve emailed the chsupport email address as well and no response at all.
I think it’s time to file a CFPB complaint. https://www.consumerfinance.gov/complaint/
Had no issues with the new savings bank switch. Earned my full May interest on May 31st
Getting the run-around with Mango as well. They said that I will have a check by the 15th of June. I stated, if a check is not here by the 15th, I will be filing a complaint with the feds and state regulatory authorities. I guess one for Mango and one for Sunrise banks. I suggest others do the same.
This is such a mess and so shady. I received no notification before both my card and savings account were completely zero’d out by Mango. A belated e-mail said both were closed while they switched banks and the “checks are in the mail” for the balances. I’ve sent numerous e-mails to their support e-mail with no response. I’ve called numerous times and been put on hold music indefinitely- I waited up to an hour once to see if someone would pick up, nope.
For all I know they’ve walked away with my money. There’s not even a way to completely close your account. Ridiculous.
I believe that max $1,700 could be transferred from Card to Savings. However, it was previously possible to do multiple transfers on the same day.
Does anyone know if that is still possible?
Alas, it’s $1700/day. I had to temporarily withdraw my $5k back in March, when I deposited it back in April, the $1700 limit was enforced. I did three days of spending>savings transfers with $1700, $1700, $1600.
I am continuing here from the previous thread (“Mango Prepaid 6% APY Card Changing Hands Again”)
I kept calling support since beginning of April asking them to mail me the new Metropolitan card, but I didn’t get it until May 1st. Because this was after they closed down the Sunrise Savings accounts (which was May 1 per the posts here), they sent me a check for my 5K Savings balance on May 17th.
I am still waiting for my check… I am loosing interest while the check is in the mail, which may take up to 4 weeks!
My Sunrise Savings account is still there, and not even escalated support have so far been able to remove it. As long as it is not removed, I can not open a new Metropolitan Savings account and deposit money again.
I made the required $800 direct deposit to the card in May. I wonder if they will pay any interest for May…?
Are there other people in the same situation as me? I think that we should all file an online complaint to CFPB (Consumers Financial Protection Bureau) if we loose interest because of their errors. It will have more impact if a lot of us file a complaint!
I guess we will have to wait and see if they credit the May interest due before the liquidation when the check arrives. At least you received the card; after countless follow ups and ultimate promise for an expedited delivery that never came through for my account.
I stopped making DD after reading the notice in late March or February that the old card will no longer be active. I was worried that I would not be able to pull the funds out. In hindsight, I should have tested it.
Because I was worried about Mango being a bunch of dicks, I downloaded my statements to date, for my record. I noticed that the card numbers on the spend and the savings were different from one another.
Question to those for whom the transit has been painless: do your statement for savings show the same card end numbers as for the checking?
It will be interesting to see what kind of interest gets posted at the end of May.
Yep, same here. Different card numbers. My spending reflects the new Mango card, but no idea what the savings card number is — it’s not my new or old Mango card.
On the subject, are your savings statements correct? All my statements are identical, for May 2018 through when I opened my account, back in 2016. Wish I had downloaded my previous documents, as it looks like the spending account transactions and statements only go back to March 2018. Had no issues before the bank switch
Just got this email today. I was not previously notified about any changes and I have not received any new debit cards. I logged into my account just now and my entire balance (card and savings) is at $0. I think I’ll wait for my check and call it the end for Mango.
Dear Cardholder,
As previously notified, we are closing your Mango Visa card at Sunrise Banks. If you had a balance remaining on your card or savings account, you will soon receive a check for your remaining balance. This check will be mailed to you at the address-on-record
The check should arrive within 4 weeks.
Please contact us with any questions at [email protected] or at 1-855-687-2036.
Thank you,
Your Mango Support Team
I received the same email. In my case they had only emptied the saving and left the spend account as was.
Well you’ll be waiting a very long time for your check. I’ve only received my new card May 28th when they claimed to have sent it out on April 10th and then again on May 7th and just recently May 18th.
When I spoke to them on May 8th about a text message received April 25th stating my savings was “transferred out”, they claimed a check was being mailed to me. I get another text saying an “unload” was made on May 17th. When I spoke to them on May 18th they said the card and the check was sent out. At this time I threatened to report them if I didn’t receive my money this week. I have the card, but not the check. So, it’s been 5 weeks since I was supposed to “receive a check”. I wouldn’t hold my breath for that money.
FYI, I guess I was fortunate to have misplaced my original card and having to report it lost, I pressed 9 and spoke to someone about the entire situation within 1-3 minutes. The main extension for inquiries will leave you on hold for way too long.
I created a support ticket with Mango to find out if the savings account is still FDIC insured. No response from Mango yet and it’s been two days. I’m getting a bad feeling they are out to clean out our accounts. The movement of our 6% savings accounts from Metropolitan Commercial Bank to some no name and no history Praxell, Inc has me worried about the safety of the funds. If I don’t hear back in a two more days, I’ll close out the account entirely. If anyone knows whether our savings account is still FDIC insured after the move to Praxell, Inc. please advise.
That is a good point, it does sound like the “savings feature,” unlike the card balance, is not an account at a bank, in which case it can’t be FDIC insured. But I don’t think they have enough disclaimers in the terms to avoid legal trouble if customers lose money, though of course that doesn’t guarantee the money will be returned
Hi Mike, were you able to receive a response from Mango Customer Service whether or not the savings account is FDIC insured currently?
Thanks!
Does the account still offer the 6% savings account and have to account routing and account numbers changed?
According to the website it still does. After logging in, it still shows the same direct deposit information, so nothing changed.
Thank you
My ach of 800$ was refused by mango… please check if this has happened to other folks
I haven’t tried to ACH over funds this month so I can’t comment whether everything works after they moved the savings account on May 1st to Praxell, Inc.