Master Card’s Mango money prepaid card is a great card with a money saving focus. A Mango Money savings account boasts high APY, as much as 6% which is, as they say, “45% higher than the industry average.” The best interest rates are reserved for those who set up direct deposit, if you don’t, you can still get a 2% APY which is still pretty high. If saving money is your goal this is a great card to consider.
There are no sign up fees, no customer support fees and no overdraft fees. There is a $3.00 monthly subscription fee but it can be waived if you have $500 deposit each month. There is a $1 fee when you check your balance at ATMs but it is free to look up online or on Mango’s handy mobile app. There is a $2 ATM withdrawal fee if you need cash off the card.
Verdict – Great
Mango is another great choice for prepaid debit cards, especially for saving money. It is also a great low fee option.