Mango MasterCard Prepaid Card

How We Rated the Mango MasterCard

Card Features Fees Disclosure Clarity BBB Rating Load Options Overall Rating

Rating Explanation Mango MasterCard 4 GetDebit.com Editor 02/19/2010 The Mango MasterCard is an excellent product. This prepaid card is not designed for people who need to use bill pay, but if you need an inexpensive way to cash your paycheck, send money to others, or to use a credit card type payment device that is accepted at millions of Merchants around the world, the Mango MasterCard may be perfect for you. The card would have received our highest rating but for two (minor) issues. First, the company behind the card (Mango Financial, Inc), is relatively new, so they have not yet established a history with the Better Business Bureau. Second, the card (by design) does not have all the features of some cards (like bill pay or credit builders). However, if you do not need those features, we highly recommend this product. The Mango MasterCard is an excellent product. This prepaid card is not designed for people who need to use bill pay, but if you need an inexpensive way to cash your paycheck, send money to others, or to use a credit card type payment device that is accepted at millions of Merchants around the world, the Mango MasterCard may be perfect for you. The card would have received our highest rating but for two (minor) issues. First, the company behind the card (Mango Financial, Inc), is relatively new, so they have not yet established a history with the Better Business Bureau. Second, the card (by design) does not have all the features of some cards (like bill pay or credit builders). However, if you do not need those features, we highly recommend this product.

Mango MasterCard Fee Examples

Want to know how much the Mango MasterCard might cost you to use in a typical month? We have crunched the numbers for you! We also show how Mango MasterCardstacks up against some common alternatives so you can see if you would save money using this card. Please remember -- cost should NOT be the only reason why you pick a card -- make sure to consider the card's features (some cards have more features than a typical bank account).

To see different scenarios, change the following variables.

	Number of transactions each month	Mango MasterCard	Bank of America "Regular" Checking	Check Cashing Store
Monthly Fee	Once per month	$	$	$
Cash paycheck (per month)	$	$	$	$*
ATM Withdrawals	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Bill Payments	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	$
Online Purchases	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
In-Store Purchases***	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	$	$	N/A
Overdrafts:****	0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20		$	$
Total		$	$	$

Note: * Based on a U.S. Average check cashing rate of 4.54% (per the Brookings Institution),
**Using the Money Order fees from the U.S. Post Office (Some of the lowest available),
*** We assume that 1/2 of your in-store purchases will be made using your PIN,
****A LARGE portion of Americans experience at least 1 overdraft each Month. Also note that the Check Casher CANNOT buy items online, and must use cash for all purchases.

Fees Associated With The Mango MasterCard*

Activation Fee:	$0.00	Card Limit:	$Varies
Monthly Fee:	$0.00	ATM Withdrawal:**	$$2.00
Signature Transactions:***	$$0.00	ATM Balance Inquiry:	$$0.50
PIN Transactions:***	$$0.00	Bill Payments:	$0

The Mango MasterCard really does have a simple fee structure. There are very few "gotchas" in their terms. The biggest tip is to make sure you use direct deposit or otherwise load $500 each month -- you'll save $5 each month on fees as Mango will waive their monthly maintenance fee. One of the big features of the Mango Card is their mobile phone integration (called "YAP") which lets you send and receive money via SMS on your mobile phone ... for FREE. Mango also provides free customer service (with live humans to talk to!).

Notes:
* Fees verified as of 02/19/2010. Check the Current Terms & Conditions for a list of all the fees.
** Some ATM operators may charge a fee for use of their ATMs in addition to this fee.
*** To use your Mango MasterCard in a "signature" transaction, select "Credit" when checking out at a brick and mortar merchant. Most internet transactions are automatically processed as "signature" transactions.

Mango MasterCard Card Options

What you see is what you get with Mango. There are no design or "feature" options. You get access to all the great features in the basic card package.

Here are GetDebit’s “Low Fee Tips” for this Card

The Mango prepaid MasterCard (like all financial products), has fees that can be avoided with careful use. Here are a few tips to minimize your monthly fees and costs associated with the Mango MasterCard.

• First reduce the number of ATM withdrawals you make. If you need a few hundred dollars in cash for the week, take that whole amount in one withdrawal from the ATM (assuming you have enough funds in the account!). Don't withdraw $20 or $40 at a time (the fees add up FAST).
• Treat your card like a checkbook. Don't try to take money out when you don't have it (you won't get an overdraft charge, but you could get a ""decline"" transaction at an ATM).
• You really should use direct deposit if you can. Ask your employer (they should be able to set it up for you). Direct deposit is great. It reduces paper waste, and you get access to your pay much faster than waiting for a paycheck to cash.

Tips for Using The Mango MasterCard Prepaid Card

• Can I Get a Secondary Card on a Prepaid Debit Card Account?
• How to set up Direct Deposit for a Mango MasterCard
• How to Dispute a Debit Card Charge
• Why Do I Need to Provide a Social Security Number to Get a Prepaid Debit Card?
• Loading Funds On Your Prepaid Card with MasterCard’s rePower Network