Inactive User Fees - Frequently Asked Questions (also called Dormant account)

1. Who is Mangopay?

Mangopay S.A is an electronic money institution authorized by the CSSF in Luxembourg under the number W00000005. Mangopay’s license can be checked here.

Mangopay has several types of customers: marketplaces, platforms, fintechs, and crowdfunding platforms. We offer payment services to them so they can operate their businesses. You probably landed on this page because you are currently (or were in the past) a customer of one of those Mangopay clients.

As a customer of one of our partners (called a "platform") for selling items, offering a service or initiating a crowdfunding campaign, for example, Mangopay is your payment service provider. We provide the platform with the robust payment technology required for their services, and we are responsible for the management of all funds exchanged between platform participants.

When you registered an account with a platform which is one of our customers, you opened a Mangopay account to receive your payments. You’ve also accepted Mangopay's Terms and Conditions for payment services (T&Cs), which constitute an agreement between you and Mangopay that governs your use of our Mangopay account via our partner. This service covers the comprehensive management of your funds, including coordinating the payout of funds to your bank.

2. Why are you being contacted regarding the “inactive account"?

An account is considered inactive (or dormant) if no transaction (such as a payment or a payout) has been initiated or processed for a continuous period of two years (730 days).

We track activity primarily to keep your money safe:

• Security: An inactive account that still holds funds is a potential target for hackers and malicious attacks, such as an account takeover.
• Protection: Our policy is a proactive step to reduce these cybersecurity risks and ensure the highest level of security for the funds of all users.

For further reference, you can visit these two links:

• Article 4.3 of Mangopay’s terms and conditions
• CSSF Circular 15/631 (The CSSF is the financial regulator in Luxembourg that licenses and supervises e-money institutions like Mangopay, ensuring compliance with European directives (like PSD2) and safeguarding client funds.)

3. Is this email from Mangopay legitimate?

Yes it is. As the payment processor for our partners, Mangopay manages the secure holding and flow of your funds. We are reaching out to you regarding your account activity and status as part of our process to ensure a secure management of your funds. You are always welcome to verify the information contained in this email and learn more about our role:

• Visit our Official Website: you can consult our official website for more details about our services and policies at www.mangopay.com.
• Contact your platform: You are also free to reach out directly to our partner’s customer service team. They can confirm our partnership and the validity of this communication regarding your account.

4. What is this €30 you mention about?

To help us maintain the highest level of security and manage the required infrastructure for dormant accounts, an inactivity fee of €30 will be applied annually. This fee covers the operational costs until you re-activate your account by initiating a transaction, or until the account is formally closed. This action aligns with our stated obligations under our Terms and Conditions and the applicable regulatory framework.

The €30 fee is taken only from the funds held within your user account with our partner. The amount of the fees is limited to this balance: your account can never go below zero, meaning if the available balance is less than €30, we will only deduct the existing amount. We want to assure you that this process is entirely separate from your personal bank account, as an example:

• if you have 22 euros on your account, 22 euros will be deducted,
• if you have 100 euros on your account, 30 euros will be deducted.

⚠️ If your platform has ceased operations, or is not working with Mangopay anymore, please have a look at part 5. If your platform is still active, you can proceed to part 6. 

5. My platform is no longer in business with Mangopay or has ceased operations. How do I withdraw my remaining funds?

To initiate the withdrawal of your remaining funds, please follow the dedicated link provided in the email you received with the subject line “Action Required: Retrieve Your Remaining Funds from…". For compliance and security purposes, you may be required to submit a valid identity document and your bank account details in order for Mangopay to process the payout.

Your account will be closed shortly after your balance reaches zero.

6. My platform is still active. How do I withdraw my remaining funds?

Request a Payout of your funds towards your bank account. If you need assistance, please reach out directly to the platform’s customer service team to organize this payout.

7. My platform is still active. How can I close my account? if I do not sign the Amendment?

Please contact your platform, they will have all the necessary information to assist you with your query.

If you have any GDPR related request, please email dpo.mangopay@mangopay.com