The Mango Prepaid Mastercard by Mango Money is a straightforward financial product for people of all ages. This debit card, issued by Metropolitan Commercial Bank, launched in 2018. It is ideal for consumers with poor or no credit and has some nice perks on top of being safe, flexible to use, and easy to load.

This prepaid debit card is good for young adults and adults looking for something between cash and a typical debit card. And with the opportunity to earn high interest rates on money saved as well and plenty of ways to load money to your card, it’s a solid choice for people to build good money habits through low risk means. Learn all about the Mango Prepaid Mastercard here.

Who is It For

Average age: Adults aged 18 years old or older.

Good candidate: People who want spending freedom but have little to no experience with money management practices.

The Mango Prepaid Mastercard doesn’t require a credit check when applying, so it doesn’t matter whether you have started building up credit or not. We recommend this product to people who have a poor credit score or no credit history at all, especially those who will take advantage of the high yield savings account.

Parents can apply for this card on behalf of their children, but their children must be at least 18 years old to qualify. This is not a debit product made specifically for kids and teens, so if that’s what you’re looking for, consider other prepaid debit card options such as Greenlight, BusyKid, FamZoo, or Copper.

Features and Benefits

With the Mango Prepaid Mastercard, you can spend your money anywhere Mastercard is accepted, but only up to whatever is loaded on your card. There are a few different opportunities to earn extra cash with Mango and account features built in to help you form good spending and saving habits.

You can add money to your account via direct deposit, ACH bank transfer, PayPal transaction, or cash at a Green Dot or Ingo Money kiosk (cash reloads do not incur fees from Mango but may incur fees from third-party locations). Green Dots can be found at both ATMs and retailers like grocery stores, gas stations, and banks.

💰 Earn: When you successfully refer a friend to Mango using your unique identifier code and they open an account and set up direct deposit of at least $50, you earn $10. There is no limit to how many times you can receive this referral bonus. You can also earn money through the interest-bearing Mango savings account, but we’ll get to that. 

💸 Spend: There is nothing extraordinary about the Mango Prepaid Mastercard when you need to spend money. Just load the card with cash or external funds and use it like you would use cash, except that you’ll be asked for your PIN when you swipe. This card can be used at ATMs (fees apply) and with electronic money transfer apps like Venmo and PayPal.

Mango cardholders can also enjoy the benefits of Mastercard membership through Priceless. Priceless is a program for Mastercard users that offers exclusive experiences in categories such as Entertainment, Shopping, Travel, Culinary, and more. Some experiences are discounted. Read more about the Mastercard Priceless program.

It is not possible to overdraft a Mango account, and credit in any form, including loans, is not available at this time.

You can sign up for text alerts to notify you whenever your card has been used. This is a free feature that can help you keep track of your balance and budget your spending. You can always see your transaction history, card balance, and savings from your account. Users can also transfer money to each other through the Mango app cardholder portal.

💰 Save: Users can earn an APY of up to $6 with the Mango Prepaid Debit card. However, there are several stipulations to this offer. First, you have to fund the savings account with at least $25 and maintain this balance in order to qualify. Then, you have to use your Mango card to make at least $1,500 worth of purchases or payments every month.

If you can’t quite afford to spend this much each month, Mango will pay an interest rate of 2% when your total purchases equal between $750 and $1,499.99. You must still have an average daily balance of $25 to qualify for this rate.

The final catch is that the maximum balance for this high rate is capped at $2,500. When your balance exceeds this, your money earns just 0.10%. These rates are subject to change at any time.

There is a monthly limit of six transactions for the savings account, the number established by the federal government in Regulation D that a lot of banks still follow even though this rule was suspended in mid-2020.

You can sign up for Mango Savings as soon as you’ve opened your account and put money on your card for no extra fee. There is a limit of one savings account per Mango checking account. People with a steady income who can link their direct deposit with Mango stand to earn the most money from this account.

You may choose to add one authorized user to your account at no charge.

How Much Does the Mango Prepaid Mastercard Cost

💲 Fees: No activation fee, $5 monthly account fee, $3 per domestic ATM withdrawal, $4.95 + 3% per international ATM withdrawal, $1 for declined ATM withdrawals, $1 for balance inquiries at ATMs, $8 monthly account inactivity fee, no cash reload fee.

There is no charge for opening an account. The $5 monthly fee is waived when direct deposits total or exceed $800 per month. The inactivity fee is assessed after 90 days of inactivity, meaning no money has gone in or out of your account during that time.

There is also a $2.50 fee for every bank teller withdrawal you make at a participating bank and a  $10 fee for closing your card, which can be done online or through the app. There are no additional hidden fees.

Benefits of Mango Over Competitors

One of the most attractive things about Mango is that it allows customers to earn interest on their savings, and the APY isn’t shabby. You have to be earning money and spending it regularly to qualify, but you won’t find a rate like this offered by many other savings accounts.

Another nice thing about Mango is that it’s easy to fund your account because there are a lot of funding options. You can load by bank transfer, PayPal, direct deposit, or cash. There are no fees for any of these transfers. Cash reloads, especially free ones, are somewhat unique in this arena.

And of course, Mango has advantages over bank-issued debit cards and credit cards, including that accounts can be managed 100% digitally. You won’t have to deal with brick-and-mortar banks to address questions and concerns, and you won’t be able to accrue debt or spend more money than you have. Prepaid cards are, in general, a responsible choice for cash access.

Potential Drawbacks

There are a lot of fees associated with this product compared to competitor products. Although it is possible to waive the monthly fee, there are plenty of good prepaid debit cards out there that don’t charge a fee at all and have fewer account management fees. Incurring fees for using an ATM of any kind is especially frustrating.

Another thing you might not like about Mango are the account limits, which are somewhat restrictive. For example, there is a daily total withdrawal fee of $500, a daily cash deposit limit of $950, and a daily purchase limit of $2,500. Mango also caps accounts at $10,000, so there’s only so much you can spend and save. If you’re going to use this card to move large sums of money, you’re going to run into problems.

If you’re planning to get this card for your child, the main obvious drawback is that the minimum age is 18. And if you do want to get this prepaid debit card for your college-aged kid, you won’t be able to set spending limits, get activity notifications, or otherwise control or monitor their account to help them form smart habits.

Finally, there is no app for the Mango prepaid debit card, only a mobile-enabled cardholder portal. This could easily prove inconvenient.

Custoumer Sentiment

Mango Money users would generally recommend this card to others. It’s easy to use and decently flexible in terms of how you can load it, where you can spend it, etc. However, a couple of users have had money disappear from their accounts without explanation. There are not a ton of reviews out there from real customers on the product itself.

There is no dedicated Mango Money app at this time. Users will have to use the Mango online portal to access their account, which can be done from a computer or mobile device. Mango claims that their web portal is “optimized for mobile,” but it is not clear whether Android and Apple users can expect similar experiences.

To contact customer service, call 855-687-2036 or 877-896-2646. Alternatively, you can send an email. Support responds to these emails 24/7 with the exception of major holidays.

Is It Safe

All Mango Money checking accounts are insured by the FDIC up the federally allowed limit of $250,000. Mango also provides fraud monitoring services free to all users and card replacements in the event of loss or theft.

The Mango prepaid debit card is safer than a credit card because it doesn’t allow you to incur debt by borrowing money and it is safer than a typical debit card because you can only spend what is on your card, whereas most debit cards allow and charge fees for overdrafting.

Of course, a prepaid debit card won’t help you build or repair your credit, but it’s a good all-around option for people who have a less than perfect history with money. Whether you have debt or you just have trouble sticking to a budget, a prepaid debit card can help you get back on track while still giving you the convenient spending options of a card.

Note that there are no merchant category restrictions for this card, as you often see with products made specifically for young users.

How to Sign Up

To sign up for a Mango account, you or your child has to be at least 18 years old. The application will have you select one of four card designs when you start signing up

If you’re signing up for an account for your teen, they will become the account holder. You will need to contact Mango directly if you have questions about how this works, as this information is not readily available.

Funding an account is simple and there are four ways to do it: direct deposit, bank transfer, PayPal, or cash. There is no activation fee for signing up or minimum opening deposit requirement. However, remember that the monthly fee of $5 will be charged if you don’t link direct deposits of at least $800 within a month.

Final Thoughts

This is a decent prepaid debit card overall, especially for that high yield savings account. And although the 6% APY for the savings may be difficult for some people to qualify for, this is definitely not a rate you see coming from a lot of competitor cards and gives Mango an edge. 

The main drawbacks to be aware of are the fact that Mango doesn’t have a mobile app and that there are a lot of fees. This wouldn’t be a great first card for kids as it doesn’t provide parental control options, but it might work well for people that want to teach themselves to spend and save more responsibly.