Mango Prepaid MasterCard Review
Mango Prepaid MasterCard is designed for teens to help them learn and develop good spending habits.
The Bright Side
Opening a Mango Prepaid MasterCard offer teens the avenue of also opening a savings account with up to 6% Annual Percentage Yield (APY) and the option to make six transfers out each month.
Mango card, charges no signup fee, activation, or loading of funds via bank transfer.
Other fees on Mango card are minimal, they are; $5 monthly, $3 to withdraw from an ATM.
You can use your card wherever MasterCard is accepted.
Your teens can manage their account with a smartphone app.
One unique thing about the Mango card is the mobile app. With the app, cardholders can log in on their phones to view balances and current transactions, manage transfers to the linked savings account as well as take care of other basic account activities.
Mango Prepaid MasterCard Downsides
What’s not so good with the card is that to qualify for the 6% APY. Mango needs signature purchases of at least $1,500 and a minimum balance of $25 by the end of the month.
It charges a card purchase fee of $9.95 for a custom card, a monthly fee of $5, and $3 ATM fee.
Mango Prepaid MasterCard is great for people who don’t have a bank account but want the convenience of being able to pay with a card.
This card is also best for kids and other relatives.
If you want to transfer money to a parent or other adult relative on a regular basis if they don’t own a bank account.
Mango Prepaid MasterCard Alternatives
American Express Serve Cash Back card that offers a checking alternative that pays you. It charges a monthly fee, and also offers you a 1% cashback on purchases.
If Mango does not really look like the card that can meet your needs, you can try considering these options;
- Bluebird by American Express, which is ideal for people who need a bank account alternative that comes with a checkbook.
- Chase Liquid designed for those who want to convenience of a card from a big bank without the commitment of a bank account. You can use this card to easily send money to friends and family in the U.S.
There are several options for the support offered by Mango. There’s a FAQ section on the card’s website where you can get answers to your questions. If you can’t get answers to your questions on the FAQ section, you can contact the company by phone or via email.
Mango Prepaid MasterCard Rating
The Mango card is rated as one of the best prepaid debit cards with some of the best features, like a savings account with a high APY and text notifications that updates you when money is taken from your account. Mango is also rated well on fees charged and also the options it gives you to add funds to your account.