Mango Prepaid Card Savings Does Not Send 1099-INT For Taxes

As many of you know the Mango Prepaid Debit Card offers a tremendous savings account interest rate of 6% on balances up to $5,000. Keep in mind that you must maintain $800 of net ACH transfers/loads onto you card each month to qualify. Otherwise the interest rate is 2%, which is still not a bad interest rate compared to most savings accounts now days.

Mango Savings Account 1099

For those that actually have an Mango Savings account. You are probably wondering if they are going to send a 1099-INT so that you can report the income on your taxes. This year I never received a 1099, so I was wondering if Mango simply did not issue one, or if I needed to request it. I called Mango Money customer service at 855-687-2036 and the agent confirmed that a 1099 was available, but I needed to request it. He said that I could receive it either by email or direct mail. I requested the email option and he told me it would be sent within 24-48 hours.

The funny thing was I asked what the interest income for last year was and he couldn’t tell me! I just needed the amount to report on my taxes, but he said I needed to wait until the 1099 was sent. So weird!

Update: Mango (Sunrise Banks) Emails Me My 1099-INT

Sure enough two days later I received an email from no-reply@track1099.com stating that by clicking on the link I give Mango Visa® c/o Sunrise Banks NA and Track1099 LLC to deliver your 1099-INT electronically for tax year 2016. On the page I simply entered the last four digits of my SSN and I downloaded a PDF of my 1099. It was surprisingly easy once I received the email!

Bottom Line

It seems strange that Mango never sent me a 1099 in the mail and it sounds like you need to request the statement if you want it. It took me only a few minutes to call, but don’t wait until the last minute if you are doing your taxes!

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4 Responses to "Mango Prepaid Card Savings Does Not Send 1099-INT For Taxes"

  1. Adam says:

    Just FWIW, I also realized I never got a 1099-INT from Mango.

    When I called their customer service number tonight (same number your posted — 855-687-2036), the support agent I talked to seemed to have no idea what I was talking about or what a 1099-INT was. He kept wanted to give me a paper monthly statement.

    He submitted a “request to the back office” for me but put a note on it the request to have the 1099 e-mailed to me (if they figure out what a 1099 is… :-\).

    Finger-crossed, hopefully I hear something before tax day… For now, I’m just reporting my Mango interest earnings as addn’l misc income on my taxes. But if Mango sent a 1099 to the feds, and I don’t account for that on my taxes, seems like a great way to raise my audit chances…

    • savermetrics says:

      I’m beginning to think Mango may not have sent a 1099 to the IRS. The agent I spoke with knew what a 1099 was, but he had no idea how much interest I earned. I
      ‘ll probably find out if a 1099 was indeed issued by Tuesday. I agree that this is quite annoying and could increase audit chances.

    • savermetrics says:

      Hi, I just wanted to let you know I received an email from Mango this afternoon with a link to a page where I downloaded my 1099-INT. The payer on the form is listed as Mango Visa® c/o Sunrise Banks NA Federal ID #41-0852727. I guess they did issue a 1099 after all. Good luck!

      • Adam says:

        I also got an e-mail from Mango today with a link to download my 1099-INT from them.

        Although the customer service guy was definitely confused, I’m quite please that they turned things around in less than a business day.

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