MisterTango Review: Fiat and Crypto Banking Services

MisterTango is a crypto-friendly a fintech firm that offers dedicated IBAN accounts for businesses and individuals, crypto banking and SEPA transfers in the European Economic Area (EEA). It was founded in Lithuania in 2014.

How MisterTango Works

Mistertango offers a virtual banking experience with features like a dedicated EUR IBAN, a prepaid debit card, and SEPA transactions. The account allows you to receive and send money internationally. It offers its services via the Mistertango app and Mistertango website.

To open a Mistertango account, you must first complete a short online application process. Once your application is approved, you can deposit funds into your account using a variety of methods, including bank transfer and credit card.

What Services Does MisterTango Offer?

Mistertango bank offers the following banking services.

• Mistertango personal account: Your personal account with a dedicated IBAN. You can fund your cryptocurrency activities with the bank using fiat currency. You can send money to any Bitcoin address with a single click, or receive money in Euros directly from a Bitcoin address.
• Mistertango business account: Companies registered in the EU/EEA can open business accounts. The business account supports both fiat money and cryptocurrency. It’s ideal for bank accounts for crypto-related business institutions.
• Account for cryptocurrency-related businesses: Mistertango offers banking services for regulated cryptocurrency exchanges and ICO companies.
• Mistertango crypto loans: Mistertango offers crypto loans via a SEPA payment directly into your account through its partnership with Nexo.
• Mistertango API: The API is used by businesses to automate mass payments. The API allows you to manage your business accounts directly from your accounting system without having to log in to the Mistertango website or Mistertango app. With the Mistertango API, you can create an unlimited number of virtual IBANs for each customer or payment.

Mistertango Fees

Mistertango Supported Countries

Mistertango bank supports customers from the European Union and the European Economic Area (EEA).

MisterTango Customer Support

This financial institution offers a premium support service. Premium support is simply one person who will work to complete all your requests in the shortest time possible. It works directly as your agent with the compliance team. If you have further questions, you can also contact the MisterTango team by email- support@mistertango.com or by phone +37052055501 for Lithuanian customers and +442080893535 for international customers. The customer support working hours: Monday-Friday, 8:30 AM-5:30 PM (UTC+3).

Is Mistertango Safe and Legit?

MisterTango is a licensed Electronic Money Institution (EMI) that is supervised by the Central Bank of Lithuania and State Data Protection Inspectorate. Your funds are stored separately from Mistertango own funds and cannot be used for business or lending purposes.

MisterTango Customer Reviews

Mistertango has received a significant number of negative customer reviews, highlighting several recurring issues. Customers have reported being charged fees even when they haven’t used their accounts, and Mistertango has been known to block payments and request excessive documentation without providing clear reasons. Additionally, the company has the authority to block accounts for extended periods, up to 90 days, with the possibility of indefinite renewal. These practices have contributed to Mistertango’s poor rating on Trustpilot, currently averaging 2.4 stars out of 5 from 177 reviews as of October 2023.

These recurring complaints raise concerns about Mistertango’s reliability and customer service standards. Potential users should carefully consider these factors before choosing Mistertango as their digital payment solution.

MisterTango Supported Languages

To communicate with MisterTango, customers may send emails to support@mistertango.com. A response will be sent to the clients’ email address used to register the account. All communication is conducted in English or Lithuanian.

Mistertango Alternatives

Mistertango competitors and alternatives include the following:

• Revolut (crypto trading)
• Xapo (crypto banking)
• Dukascopy (supports crypto trading and crypto settlement accounts for cryptocurrency businesses)

Mistertango Crypto Bank: Is It Safe and Reliable?

Mistertango is a digital payment solution that offers both personal and business accounts in Europe. The bank also provides IBAN and SEPA transfers, making it a convenient option for those who need to send or receive money within the EU. However, based on the findings of this review, it is important to be aware of the potential risks associated with Mistertango, including unexpected fees, blocked payments, and excessive documentation requirements. Additionally, the company has the authority to block accounts for extended periods, up to 90 days, with the possibility of indefinite renewal.

If you are considering using Mistertango, it is important to weigh the pros and cons carefully. Be sure to read the terms of service carefully before creating an account, and be prepared for the possibility of delays or unexpected fees. It may also be wise to choose a different digital payment solution with a better track record of customer service.