Posted by William Charles on November 16, 2014
Rewards Checking

Published on November 16th, 2014 | by William Charles


Mango 6% Rewards Checking Account + $20 Bonus

Offer at a glance

  • Interest Rate: 6% (drops to 2% with no active direct deposit)
  • Minimum Balance: None
  • Maximum Balance: $5,000 (drops to 0.1% if over this balance)
  • Availability: Nationwide
  • Direct deposit required: Yes, minimum of $50 per month. See what qualifies as direct deposit here.
  • Additional requirements: None
  • Hard/soft pull: Soft
  • Credit card funding: No
  • Monthly fees: $3, cannot be waived (fee free when your balance is $0)
  • Insured: FDIC (3973)
  • Length of promotion: Since early 2012

The Offer

Direct link to offer

  • Receive an APY of 6% on your balance up to $5,000 when you are enrolled with direct deposits
  • Receive a $20 bonus when you sign up for their direct deposit service
    • Must receive two direct deposits totaling $50 or more within 90 days of account opening
The $20 bonus is often not given automatically.

Keep an eye on your account and if you notice that you completed the requirements and received no bonus get in touch with them. This is usually resolved quickly as long as you call to request it.

The Fine Print

  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
  • Direct

Avoiding Fees

Unfortunately it’s no longer possible to avoid the monthly fee which is now $3. They also have a number of fees related to using the card which are as follows (alternatively click here for the official site):

The easiest way to avoid these fees is just not to use the card in an ATM or internationally. Either use the card strictly for purchases (not recommended as you don’t earn any points. But might be worthwhile putting a few purchases on there every now and then to make the account look “normal”)

Our Verdict

If you’re not familiar with reward checking accounts, I’d recommend reading this post first. This used to be a much better option when the monthly fee was waivable. When you consider the $3 monthly fee ($36 annually) the APY really drops to 5.28% (assuming you have the maximum balance of $5,000). Obviously the less you have in the account the less the APY is due to the monthly fees.

This is one of the better reward checking accounts out there and is definitely worth a look at. I use several rewards checking accounts to keep my emergency funds in, this helps give me an interest rate higher than inflation and also gives me some piece of mind in case I lose my job or have an accident.

There is also another card/account that is very similar to this one called the Union Plus Prepaid card which has an APY of 5.10% and no monthly fees. We will cover this in more detail in the future, although it’s possible to have both of these cards.

For those thinking about using this for manufactured spending purposes, tread lightly. It’s possible to load this account with GreenDot MoneyPaks but they are quick to shut people down for doing this too often.

Direct link to offer


How long does it take to get your card set out?

Wait times are notoriously long. Make sure you have at least $20 in your account. Some people have reported waiting up to a few weeks for their card.

Does mango money offer any type of referral or affiliate commissions?

No. They used to allow their customers to friend a friend and earn $10, this is no longer active.

How do they determine a month?

When they say you must make one direct deposit per month, it’s based on when you signed up for your account not a calendar month.

Update: Note some changes in Mango terms.

86 Responses to Mango 6% Rewards Checking Account + $20 Bonus

  1. Paul Taylor says:

    I’m interested in this due to the interest rate (no pun intended), but it looks very restricted. It says you can transfer funds to it from a bank account, but I don’t see anything about writing actual checks, only using the debit card. Is there an easy way to transfer your money away from this account? Perhaps there is some other account you can “make deposits” as purchases with a debit card? If so, I’d love to heard about them. I’m kinda new to these alternative banking methods, so it makes me a little nervous to have limited access to my money. If there was a way to do an initial deposit of 5K, set up a direct deposit of $100 a month and do a “purchase” of $122 a month to a more typical bank account?

  2. R. says:

    They will not issue a card before you have $20 sitting for a couple of days in the **prepaid** account.
    If, like me, you load money and transfer it immediately to the savings account, it’ll take more than a few weeks to get the card. Leave $20 in the prepaid account until you see the status of the card is “processing/delivery”. Same goes for the Union+ card.

  3. JB says:

    Thanks for the roundup. I’ve been looking into this card a few times and since the money sitting there is intended as emergency or short-term savings (e.g. for bills due annually like insurance premiums) I need it to be readily available. Can’t afford to have this money tied up in an account which holds my own money hostage.

    For that reason me and my wife both have the Paypal Prepaid Mastercard fully funded with the $5000. The monthly fee is $4.95 but the funds on the card can very easily be liquidated via transfer to Paypal. It only takes a few days to reach your regular checking account – or you could actually pay an emergency bill directly with the PP debit card once the money is there.

    Looking forward to the Union+ review since $10,000 is really not much to keep emergency/short-term money. I always wondered if one could get more than one Paypal Prepaid card in order to have multiple $5000 savings accounts…

  4. Jason says:

    In looking at this, how do you withdraw money? or in order to get money out you need to use the debit card only?

    • ACH pull is the easiest way to get it out.

      • Jonathan Citty says:

        Has the ACH pull out been verified? I was reading other places that Mango only allowed bill pay to yourself to get the money out, which is not exactly a great method.

        If ACH pull is allowed, are there any fees ?

    • moneyguy says:

      I’ve been using this for some time now. The easiest way to move money in and out in my experience is via paypal. I have my paypal account linked ot the bank routing/acct number and I simply add or subtract funds via the paypal interface.

      • Eric says:

        What do you use for direct deposit? Why do you feel PayPal is the easiest method to get funds out? They usually take a few days for transfers. Does Mango allow 3rd party withdrawals (ie your credit card removing funds)?

  5. Joe Black says:

    I see based on the review that they pull a soft. Can someone tell me who they pull though? I’m having problems with them being able to ID me, which never happens. I called in and they are not willing to tell me who they pull so if I can figure out if it’s failing because I have a freeze on my TU and EX, EQ is open.


  6. Shawn says:

    Do ach transfers count as dd?

  7. Dave says:

    If the transfer from my bank shows up in Mango list as an “EFT Load” does that mean it is not ACH, thus not counting as Direct Deposit?

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  9. Al says:

    If I have $6000 in the account, do I get 6% APY on the first $5000 and 0.1% on the remaining $1000, or do i get 0.1% on all $6000?

  10. Max says:

    Do the ETF loads from other banks (by doing ACH xfer) count for the direct deposit requirement ?

  11. Elliot says:

    To trigger the direct deposit requirement from Bluebird do you just use the Pay Bills feature in Bluebird? Or is there some other way to transfer funds?

  12. bob says:

    anyone have trouble loading this thing repeatedly with green dot? Is there a load limit? I cannot seem to find any verbiage. I was going to load the 5k with green dot money paks to get the extra 4% for the first year – but now that I have 2k loaded, the card rejects any additional loads. Any experience?

  13. Brian says:

    I tried to use Captal One 360 ACH transfer, but it show “EFT Load P2PPAYMEN”
    Anyone know if it will counts as direct deposit?


  14. Chuck Sithe says:

    Just signed up with Mango last month. ACH transfer into Mango account appears to have worked for me to trigger the higher 6% interest rate.

  15. Dan says:

    ACH from Alliant worked in March. I’ve yet to receive my $20 bonus though (also have not received it from Union Plus)

  16. Donna says:

    I opened a Mango prepaid account without a problem. It started with a negative $3 balance for the first cycle’s fees. I transferred funds from Discover Bank savings account twice, each time $25 to trigger the $20 bonus for direct deposit. I had read on other blogs that it didn’t need to be from an employer and that any transfer would trigger the bonus. It appeared as EFT load on Mango. After a week or two of the funds sitting there, I decided to call Mango to ensure that this deposit qualified for the bonus and then the subsequent 6% savings rate. They asked if Discover was my employer and I said no. The rep said it has to be from your paycheck but he would double check and call me back. I never received a call back. Going off of what I was told and that it did not qualify for the bonus (which is the same criteria to qualify for the 6%), I did not want to put anymore money into the account so I initiated a transfer out of the prepaid account through Discover. I was worried that Mango wouldn’t allow the funds to leave the account but the transfer back to my bank was seamless. It is pretty easy to get money out of Mango with Discover.

  17. Elliot says:

    Any idea if Mango/Union Prepaid pull a Chex report? Couldn’t find anything about it listed anywhere.

  18. John says:

    rumor says mango is going to close. is that true? there is no sign up link on their website anymore!

    • Eric says:

      I’m surprised they have lasted this long. They have to be losing a bunch of money as I’m sure the majority of people only have roughly $5K in there. Mango would only make money if people are earning .1% on a large amount.

  19. Elliot says:

    It appears you can sign up for a new one again. It looks from an email I got like they are switching from MC to Visa – probably why they went down for awhile.

  20. a says:

    Anyone know if they’re still doing the $20 bonus?

  21. M says:

    Anyone know how many mango cards one can apply?

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  23. italdesign says:

    Can you have multiple Mango (or others of this type) accounts? The point being to get 6% multiple times.

  24. swapnil says:

    Can you please guide on how to setup paypal for recurring ACH? so that i can deposit 500 every month and withdraw it as well leaving 5000 in balance?

    Thanks in advance.


    • anthonyjh21 says:

      You’re better off setting up an automatic push/pull from a bank account such as Ally Bank. It’s coming from the checking account. The savings account does nothing but sit there with $5k. The activity is all in the checking and that’s where all of the movement will occur.

      $500 goes in and $497 comes out. The reason for the $3 difference is to cover the fee.

    • Chuck Sithe says:

      There’s no way to make recurring ACH with Paypal. Only banks allow such a thing.

  25. swapnil says:

    Thanks Chuck!

  26. ynnoj says:

    Do we really need to get the physical card? Seems it is useless since nobody would use it for purchase, and ACH could pull/push money out/in. Please correct me if I was wrong, thanks!

  27. Phill The Points Around You says:

    You will still get the 6% on the 5k and if over the 5k the rest in the account is 0.1%? Just want to verify.

  28. Jon says:

    I want to deposit $5000 into the card from my capital one 360 bank. Then transfer that into the savings account. Then setup automatic deposits of $500 from my capital one 360 and then each month transfer out the 497 + the interest earned is this possible?

  29. Solomon says:

    I got a VISA mango card. They are no longer offering the 20$ bonus for this card. Also there’s a 3$ monthly fee regardless.

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  31. jcb says:

    I only see the Savings account on their site, not a Checking account. Am I missing something?

  32. John Stewart says:

    It’s a bank?
    Is there any federal or other insurance?

  33. Ken says:

    I’ve heard reports of the ACH no longer working in either direction. Have you heard anything?

  34. Sa says:

    Time to bring this current.
    Is it that Mango will not send the card unless i already have money in my new account with them?
    How exactly do I “Make sure you have at least $20 in your account”? I dont have the card to load it. And cannot set up ach because i cant login to the Mango account without the card.

    • Chuck says:

      I got the card a long time ago – don’t recall exactly. Did they tell you they are sending the card? Then you should be okay, just wait for it to come.

    • Sarah says:

      I think the $20 requirement is no longer an issue. I just opened a Mango account this month. I didn’t see an option to load funds before I got the card. My balance was $0, but I received the card 11 days after applying.

  35. Rebecca says:

    I’ve recently gotten a Mango account. It says that in order to get the 6% rate, I have to both be enrolled in the Mango direct deposit service, and direct deposit $500 per month. There is a tab within the Mango account to enroll in this service, but I’d prefer not to use this service and automatically ACH push from my bank every month. Is this the wording that Mango’s always used, but an ACH push works to trigger it anyway, or is this new?

    Also, I figured I’d mention that it wouldn’t let me transfer more than $1500 at a time from the card into savings, but it would let me do multiple transactions of $1500 in the same day.

    • Chuck says:

      I don’t see anywhere that it says you need to be enrolled in the direct deposit service.

      • Rebecca says:

        For me, this is something it says in the savings tab, at the top of the tab.

        “Earn 6.00% Annual Percentage Yield with Mango Savings™ if you’re enrolled in Mango Direct Deposit and receive a Direct Deposit load of $500 or more monthly.”

        • Chuck says:

          I see, not sure if that means to require us to use their form. I think that form is just something they send in the mail.

          All I can say is that it’s still working for me. Seems to be a glitch making it not work for others, and not even to give them 2% interest which makes no sense at all.

  36. kevin says:

    Sorry but we could not verify your details, since this program does not allow issuing cards to unverified cardholders you cant continue. (70080)

  37. sam says:

    The Fine Print “DIRECT” what does it mean?

  38. sam says:

    “Direct deposit required: Yes, minimum of $50 per month.”
    “Paypal: 1”
    How can I use paypal to transfer money in? just transfer money into mango that’s all?

    link “1” for paypal is dead!


    • Chuck says:

      Add the account and routing numbers in your Paypal account as a linked bank account. Then withdraw funds from Paypal to Mango, like you’d do to any bank.

  39. sam says:

    “Union Plus Prepaid card which has an APY of 5.10%”

    IS dead!

    how many Mango saving accounts one person can open?

  40. sam says:

    who can please elaborate, I didn’t find any info about it! how to spot such banks? how to know if each individual customer is protected by FDIC with a bank?
    I worry If I can lose my money even with FDIC logo.
    I found this info in the article:
    “And just because the website has the FDIC symbol doesn’t mean that each individual customer is fully FDIC-insured to the maximum level. It could just mean the managers are covered by FDIC insurance, depending on how the accounts are set up.”

    • Chuck says:

      Try contacting the bank if you are concerned

      • sam says:

        I have to contact each bank every time when opening new account? There is no easier way to find it out? So FDIC logo may stand for – “we only protect managers, depending on how the accounts are set up”? what do they mean by saying “depending on how the account is set up” – some accounts created specifically for managers? thx

        • Chuck says:

          It’s probably in the terms somewhere, I don’t know.

          Personally, I just rely on the website saying that it’s FDIC, especially if it’s a known, reliable bank since I assume it’s not worth their while to deceive people and then get hit with lawsuits.

  41. David in Michigan says:

    So I just got an email from Mango with new terms and conditions which state that $800 per month of ““Net Direct Deposits” into the card account is required to earn the 6% interest. Net Direct Deposits means the number of ACH direct deposits less the number of ACH debits to your Card Account each calendar month.
    So this months one has to continually add money, and can’t withdraw it out, to the tune of $800 per month. So after 12 months, you would have $9600 sitting in the card account, so that the $5000 in your savings account can earn 6% interest.
    This seems crazy to me.

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  44. Rntp says:

    The routing number given in the Mango prepaid card package received is : 091017138. When register for transfer money from my bank account to card, the bank name displayed as “East Bank”, But it supposed to be “Sunrise Bank”. Does anyone observed this ? I am little worried to transfer or setup direct deposit since the bank name is different than what they mentioned. Please let me know if you also see as “East Bank” and still no issue with it.

  45. Richard Dane says:

    Mango is a fraudulent company that stole from me within a week of having my account. I am posting this here in hopes others can see and also in hopes someone from their company who is actually based in the US might notice as I am having trouble finding any recourse to my issue.

    I have a Mango card and have had nothing but problems with their customer service. The only way they provide to contact them is via phone or mail and I have called their number numerous times. Each time I am connected to a rude person who does not adequately speak English and refuses to help me. I have asked each time to be transferred to a representative based in the United States who can assist with my issue but each time they refuse to do this. I am dealing with a very serious issue related to a fraudulent withdrawel.

    An ACH withdrawel occurred from my Mango card account on January 19th that I did not authorize and I did not receive any money from this into my Chase bank account. This seems to be a fraudulent withdrawel and has essentially resulted in money having been stolen from me.

    Jan-19-2017 7424 ACH Unload – JPMorgan Chase (Ext Trnsfr) $395.70

    I am looking into what recourse I have in this matter, I am hoping that someone from Mango or Sunrise Banks, which I believe services the Mango card, can help me. I am not going to stop pursuing this matter and am already looking into what legal actions I can take against this company.

  46. Jon says:

    I tried to ACH pull $2,510 from my mango card balance but was denied due to insufficient funds, even though there were funds. Called Mango and was told Mango automatically denies any pull greater than $2,500.

  47. EmergDoc87 says:

    Website is now saying $800 monthly direct deposit required for this

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