Mango Prepaid Mastercard review
A basic card with an avoidable monthly fee and free cash reloads — but strict APY requirements.
The Mango Prepaid Mastercard has a simple fee structure and a $5 monthly fee that’s waived with at least $800 in monthly direct deposits. Cardholders can take advantage of free cash reloads and a bonus high-yield savings account. But you’ll need to meet strict transaction requirements to earn the advertised 6% APY.
Monthly maintenance fee
Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.
The Mango card is a standard prepaid card with fewer fees than the competition. There’s no activation fee, cash reload fee or domestic transaction fee. Unlike other cards that reduce the monthly fee to $5 when you have at least $500 in monthly direct deposits, Mango card waives the monthly fee altogether when you have at least $800 in direct deposits.
That said, Mango card is best for those who have at least $800 in monthly direct deposits to waive the monthly fee. It also comes with the option of a high-yield savings account — but it isn’t worth it unless you spend at least $1,500 in signature-based purchases a month to earn the advertised 6% APY.
Although the Mango card has a simpler fee structure than other prepaid card companies, there are still quite a few fees to watch out for. With Mango card, expect to pay more for things like ATM withdrawals, international usage and account inactivity than you would with other cards.
How do I open a Mango Prepaid Mastercard account?
Get your Mango card in six steps:
- Go to the provider’s site and follow the steps to apply.
- From the Mango Prepaid Mastercard‘s website, click Sign up.
- Review the fee schedule and click I understand.
- Select your card design.
- Enter your full name, email and phone number, agree to the terms and conditions and click Next.
- Enter the confirmation code sent to your phone, along with your date of birth, Social Security number and address and click Next.
- Follow the prompts to complete your application.
Open a Mango card if you meet these requirements:
- US citizen or resident
- At least 18 years old
To sign up for the Mango card you’ll need to provide:
- Full name
- Email address
- Phone number
- Date of birth
- Residential address
- Social Security number
- Government-issued photo ID number
How long will it take to get my card?
You’ll receive your Mango card in the mail within seven to 10 days of completing your application.
What you’ll like about the Mango card
The Mango Prepaid Mastercard has no activation fee or credit check, and comes with these benefits:
- Free cash reloads. Mango doesn’t charge any fees when you reload cash at a participating Green Dot retailer. But the retailer may still charge you a fee.
- Avoidable monthly fee. As with most prepaid cards, there’s a $5 monthly fee. But Mango waives it when you make at least $800 in monthly direct deposits.
- Rewards. Get $10 each time someone opens a Mango card and sets up recurring direct deposits using your unique referral link. Plus, special discounts for travel, shopping and more through Mastercard.
- High-yield savings account. Every Mango cardholder gets access to a free savings account that earns up to 6% APY.
How does the Mango high-yield savings account work?
When you activate your Mango card, you’re automatically eligible to open up the high-yield savings account. Here’s how the interest rate breaks down:
- Earn 6% APY on the first $2,500 in your account with a minimum $25 balance and at least $1,500 in monthly signature-based purchases
- Earn 2% APY on the first $2,500 in your account with a minimum $25 balance and monthly signature-based purchases between $750 and $1,499.99
- Earn 0.1% on balances over $2,500
What to watch out for
The Mango card has these drawbacks:
- Maximum card balance. You can’t hold more than $10,000 on your Mango card at any time.
- Spending and withdrawal limits. You can’t spend more than $2,500 a day with your Mango card and withdrawals from ATMs, retailers and bank tellers are capped at $500 daily.
- Miscellaneous fees. Mango card is advertised as a prepaid card with a simple fee structure — but that doesn’t mean it’s without fees. This chart breaks down common fees you may pay:
Fee Amount Monthly fee $5 or
$0 with at least $800 in monthly direct deposits
GreenDot reload $0 — third-party fees may apply Bank teller withdrawal $2.50 ATM balance inquiry $1 ATM withdrawal declined $1 Domestic ATM withdrawal $3 International ATM withdrawal $4.95 + 3% of withdrawal International PIN and signature-based purchases $3 + up to 3% of total purchase Inactivity fee (after 90 days) $8 Account closure fee $10 Expedited card replacement $29.95
If you’re looking for a prepaid card with cheaper ATM withdrawal fees, explore other prepaid card options until you find one that suits your needs.
Compare Mango Prepaid Mastercard with other prepaid cards
I got the Mango card. Now what?
Make the most of your Mango card by following these steps:
- Download the Mango app. Install the Mango app on your phone so you can manage your money on the go.
- Set up direct deposit. If you make at least $800 monthly, you can set up direct deposit and have the $5 monthly fee waived.
- Review the fee schedule. Watch out for Mango’s many fees. Review the fee schedule before you start using your card so you’ll know how to avoid them.
- Fund your free savings account. With $25, open the free savings account that comes with your Mango card.
There are four ways to add money to your Mango card:
- Direct deposit
- Cash at a Green Dot retailer
- Bank transfer from your checking account