A Mangopay Account is defined as a Natural User or Legal User with the UserCategory of OWNER.A Mangopay Account is considered inactive if it does not initiate a transaction for a consecutive period of 2 years (730 days). This definition is pursuant to article 4.3 of Mangopay’s terms and conditions and CSSF Circular 15/631.Mangopay is obligated to maintain an active relationship with its Mangopay Account holders. Lack of activity on an account with a positive balance poses a cybersecurity risk as the account may increasingly become the target of malevolent actors, such as through an account takeover attack.Mangopay’s policy and action on inactive accounts (also called dormant accounts) is designed to protect its services and the funds of its Mangopay Account holders.
To cover the maintenance and security of inactive accounts, Mangopay applies an inactivity fee.Before charging the fee, Mangopay notifies the Natural or Legal User (Mangopay Account holder) and invites them to perform activity on your platform to demonstrate that they are still active.
After 22 months of inactivity, Mangopay sends an email to the Mangopay Account holder informing them that their account will become inactive in 2 months’ time.The email explains the fee that will be applied if their account becomes inactive, and how they can perform an action to avoid the fee.The notification is sent to the following email addresses:
After 2 years of inactivity, Mangopay withdraws 30 EUR (or the equivalent amount in the wallet’s currency, limited by the wallet balance).The withdrawal is a payout from the wallet which is visible in the API and reporting features. Your platform is not billed for these payouts.
Every 1 year thereafter, unless the account becomes active by initiating a transaction (pay-in, transfer out, FX conversion, or payout), Mangopay withdraws the same fee (30 EUR or equivalent amount in the wallet’s currency, limited by the wallet balance).If at any time the inactive user becomes active by initiating a transaction, then the 2-year counter is reset and the process is repeated.
