We reported that the Mango prepaid/savings accounts are no longer taking new customers, and subsequently Union Plus announced all existing card accounts will be discontinued by September 16th.
Now Mango prepaid just sent out a similar email stating that all existing Mango prepaid Mastercard accounts and their attached 6% savings accounts – backed by First Bank & Trust – will be discontinued on October 1, 2105. Any balance remaining in the accounts will be reimbursed by check a few weeks after that. You can opt to open a new Visa prepaid Mango card with Sunrise bank backing it.
Important notice for your Mango Prepaid MasterCard®Account
Dear (redacted)
Being a Mango cardholder we invite you to be one of the first to receive your new Mango Prepaid Visa® Card.
Over the past five years, Mango Money has expanded significantly and served more than 300,000 members with the freshest way to save more, earn more and control their finances on the go.
It is simple, just log into your Mango account center and follow the instructions.
PLEASE KEEP IN MIND THESE IMPORTANT DATES:
The new Mango Prepaid Visa card will be available starting July 30th, 2015.
Card loads, including recurring direct deposits, to your Mango Prepaid MasterCard®, issued by First Bank & Trust, will not be available after August 31st, 2015 unless, upon approval, you obtain the new Mango Prepaid Visa card issued by Sunrise Banks, N.A. By opting for the new Mango Prepaid Visa card and activating it before August 31st, 2015, you ensure your Direct Deposit continues as scheduled. Converting to the Mango Prepaid Visa Card is easy. Just go towww.my.mangomoney.com, click on the Mango Prepaid MasterCard card, key in your current user name and password and follow the instructions. If you wish not to order the new Mango Prepaid Visa Card and currently receive recurring deposits (such as direct deposit loads) please make arrangements – as soon as possible – with your bank, payment provider or payroll department to stop those deposits from posting to the Card. Any recurring deposit initiated on or after August 31st, 2015 will be rejected and returned.
Use any remaining balance before October 1st 2015, or your Card’s expiration date, whichever comes first. If recurring debit charges are assessed to your account, you should contact the merchant to provide them with another means of payment.
If you choose to not activate the New Mango Prepaid Visa Card, issued by Sunrise Banks, N.A., your Mango Prepaid MasterCard issued by First Bank & Trust, along with your savings account, will be closed on October 1st, 2015. Any remaining funds on your card or in your savings account will be provided to you via a check which will be mailed to you between October 14th, 2015 and October 23rd, 2015.
Remember, to dispute a transaction, you should contact customer service no later than 90 days after the transaction posts on your account. For transactions that post on September 30th, 2015 the last day to dispute them is December 31st, 2015
We look forward to introducing the New Mango Prepaid Visa Card in July 2015.
For more information call a Mango Concierge at 1-877-896-2646.
You’ll also see the following popup when logging into your Mango account:
It’s still not clear whether there will be an option for a high-interest savings account with the new Mango/Sunrise account or with the rebranded Union Plus account. I’m assuming there won’t but we have to wait to find out more. We’re also still waiting to see who Union Plus will partner with. Most likely, it will also be with Sunrise and both accounts will be similar as they were in the past.
UPDATE: A reader pointed out that the new Mango card is available for new customers to signup here. And it appears that the new card will continue to have the 6% interest savings account. That’s great news as it appear the change of hands is an unrelated development and the card will continue to offer the 6% rate. Another reader notes that the 6% savings account will only be customers who have a $500 direct deposit (as opposed to the old requirement of a $50 direct deposit).
I went ahead and ordered the new card and we’ll see how it goes. They didn’t tell me if the balance is automatically transferred over or not. From the email they sent me immediately, it sounds a little like the balance will be transferred. Conversely, the text they sent me immediately mentions a $0 balance.
See also, Guide to 5% Interest Prepaid/Savings Accounts
HT: Flyertalk
View Comments (86)
Happening again. Got this by email.
The Mango Prepaid Card you know and (hopefully) love isn’t going anywhere. We are, however, transitioning to our new partner bank. If you'd like to keep banking with Mango, we need your help moving your account from our current partner bank, Sunrise Banks (Sunrise), to our new one, Metropolitan Commercial Bank (MCB).
Can you fwd me the e-mail? will@doctorofcredit.com
I have a question on the MMF. The website says the "Monthly Fee charged the last day of the month following card issuance and monthly thereafter." Does this mean if I apply for the card on April 1st my first MMF will be on April 30th or May 31st?
I think it would be April 30, but not positive.
Now that Serve allows reloads at Rite Aid, has anyone tried doing so with their Mango Visa?
https://www.doctorofcredit.com/dollar-general-rite-aid-partner-with-serve-for-cash-reloads/
When you get your new visa it will have a new routing number. Once you activate the card it will automatically switch back to your old routing number. There is no problem with direct deposit. Also with sunrise mango you can opt in to get you're DD up to 4 days early. Called paxell pm.
my direct deposits are still posting to my old mastercard, had to call twice today, had the new visa for two or more weeks now, so dont know why. even had one of my DD kicked back...
By chance did you change your routing #that came with the card with your employer? Once you activate your new visa do not change direct deposit with employer. The routing # will automatically convert after activation. I received my first deposit today with no problem.
My question is my daughters SSI gets direct deposited on the 1st. Am I supposed to call social security? According to Mango Csr's it will automatically be deposited into new Visa card. Idk I'm a little Leary.
Did your daughter get her deposit today?
I have the same issue, with my sons SSi.. wonder if it will post on the 1st. any direct deposits will not post on the old mastercard after the 31st...
I tried calling Mango and an automated message said to call back in 24-48 hours because they're having technical issues. My direct deposit hasn't been deposited either. I'm furious.
Octavio,
I've read in a couple of places that Mango Visa is not allowing people to ACH money out. Have you had this problem? If so, what do you plan to do to get the $500 DD and/or the interest out of the account each month?
Yep, you apparently cannot ACH pull/withdraw funds since the switch. I'm considering loading money to my Serve card using the Mango DC (not online, that's asking for trouble). I don't know if it's worth the trouble but I'll give it a shot for at least a month or two and see how it all unfolds.
Why is that asking for trouble? Won't it show up as a normal purchase?
Same reason why it's not a good idea to even attempt an online load to Serve with a visa/mastercard gc. You don't want to use a prepaid product to try to load another prepaid.
Yeah, you're right. I was thinking you meant there would be a problem with Mango. Now I see you meant a probably with Serve. Are you just going to load the $500 + interest monthly at Walmart/Family Dollar for now?
Please state what is working to ach out the money from the mango cards.
I have been making purchases and requesting cashback but with the $500 DD going every month, I'd like to have an ach option.
I'm only tried Discover and Sallie Mae and had success with both.
I wanted to point out that with the original Mango card you only needed to make a direct deposit of $50 ONCE to activate the 6% savings rate. My family has 5 Mango accounts and we have had the 6% this way from the beginning.
The question then is if the new Mango will have $500 as a requirement EVERY month, or just once, like the Netspend savings accounts work.
The terms say 'monthly'. Don't know if it's enforced or not.
If you don't meet the $500 they would just pay the 2% interest for that month instead.
I am having a hard time depositing money into Mango. Opened the account before the switch. I was able to transfer money in from paypal, but not from either of my credit unions or redcard. Now with the new account, I don't see an option for depositing money. I think I have hit every button available but still don't see an option for depositing money. To initiate the transfer from the paypal side, do I have to put in the new numbers, or will the old numbers work? Any help would be appreciated. Thank you
The old routing number and internal account number will continue to work. The information should be displayed on the 'Card Account Info' tab (which is the first page you see when you log in) under the section 'Direct deposit your paycheck.' There you'll see you routing number and account number, which should match your previous ones.
Either the direct deposits are slow or they're having issues; i made the switch and was supposed to have money direct deposited into my new Visa account this morning after talking to a rep who assured me no routing and checking numbers changed. We will see by 9am if it posts.
I'm not sure. I haven't gotten my new card yet. There should be an account number and routing number which would work with most banks.