Save Big with a 6.00%*** Annual Percentage Yield Savings Account
Start saving today. Get a savings account and start earning interest†. If you enroll in our free Direct Deposit you can open a Savings Account with as little as $1 and get up to 6.00% Annual Percentage Yield. You can enjoy up to 6 free transfers out each month and even transfer money from your prepaid card to your savings account with a simple text message.
Every Mango Cardholder is invited to Save
Active customers that are not enrolled in Direct Deposit will be able to open a Mango Savings Account with a rate of 2% Annual Percentage Yield, reinforcing our commitment to help everyone save more.
Why is the Annual Percentage Yield so high?
We believe that savings is an important element of financial empowerment. That’s why we don’t offer things like expensive overdraft, or 400% loans. No matter how low the fees, or if fees are waived, our customers will not be empowered unless they have the tools and the habit to save.
How can we afford it?
Basically, we’ve shifted a big chunk of our marketing budget to paying our good customers instead of advertising channels – no TV or print ads. We think word of mouth is much better. After all, having good customers is good for business, but having more good customers that find value in our values is even better.
Why we drop it to 0.10% over $5,000
We believe that the amazing 6.00% is our contribution to improving our customers’ finances, and building a better America. Once customers have savings in excess of $5k, they have the tools and have established the right habits. And, with $5k in savings, a person is no longer part of America’s 60% that lives without a rainy day fund.
Save on Fees
Compare for yourself
At Mango our goal is not just to help you manage your money on the go but also to help you keep more of it. We believe in providing value with powerful tools at affordable prices, and we value long-term relationships with our customers.
Mango doesn’t have overdraft fees and we don’t charge for signup, activation, or purchase fees either. Check out how Mango compares with the most common prepaid cards’ fees from our competitors:
To view a full list of our simple fees click here
Comparison as of February 2012. For complete information, see the terms and conditions on each card issuer’s web site. While we always strive to present the most accurate information, we show this summary to help you compare reloadable prepaid card programs, not the full legal terms. Before applying for any prepaid card, we recommend that you understand the full terms and conditions as stated by each issuer.
* Excludes transfers from another Rêv Card Account
** 6.00% Annual Percentage Yield† Savings Account is for Mango customers enrolled in Direct Deposit
Save for Your Goals
Discover how easy it is to invest
Mango brings you GoalMine, the simple way to invest for your goals. Choose from easy-to-use GoalMine mutual funds or an FDIC savings account. Set up your goals for free, then start investing with as little as $25. GoalMine offers Mango customers:
Sign up to GoalMine from within your Mango account. Transfer money between your Mango card and GoalMine account with the click of a button and view your investments and savings goals anytime you login.
Save Time
Manage your money anytime, anywhere
Mango makes it easy for you to manage your money on the go with our mobile solutions: Mango Smartphone Apps, and Wireless Alerts.
Smartphone Apps
Download the Mango Money iPhone App, or login to our mobile site from any phone and manage your account anywhere you are. Securely check your balance, transaction history and send money to friends and family. There is no fee to download the App.
Wireless Alerts
Add another layer of security by getting a text notification every time your card is swiped. Managing your money is easy when you get your card balance with every purchase.
