Dave App Review 2024: Unmasking Your Financial Aid

Updated: Jan 14, 2024

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A Closer Look at the Features, Pros, Cons, and Suitability of the Dave App

The Dave app, known for its revolutionary financial services, is an effective tool to overcome short-term financial strains. Offering a key feature called ExtraCash™, the app provides users with a cash advance loan of up to $500 without mandatory fees. This unique service also incorporates a banking feature, eliminating overdraft fees and waiving minimum balance requirements. Dave app ensures free ATM withdrawals at 32,000 spots.

Discover the Dave – a transformative financial app designed to empower users with tools for better money management. Offering features like ExtraCash, no overdraft fees, early paycheck access, and an intuitive budgeting tool, Dave seeks to revolutionize personal finance.

Dave App Review and Subscribtion

What is Dave?

Dave is a pioneering fintech app that aims to make personal finance approachable and accessible for everyone. At its core, Dave provides innovative banking services that empower users to manage their finances proactively and avoid unnecessary fees. With features like ExtraCash™ cash advances, side hustle, budgeting tools, and early paycheck access, Dave offers holistic solutions for managing daily expenses and planning for the future. Additionally, with Dave Rewards, users can earn cash back at participating businesses. By bridging the gap between traditional banking services and modern technological convenience, Dave is revolutionizing how people interact with their money.

Facts Table

LogoDave App Logo
Founder(s)Jason Wilk, John Wolanin, Paras Chitrakar, Zackary Anderson
HeadquartersWest Hollywood, California, United States
Users10+ million
ExtraCash™ Advances GivenOver $1 billion
Overdraft Fees SavedOver $1 billion
App Store Rating4.8 / 5 (from over 630k ratings)
Google Play Rating4.3 / 5 (from over 475k ratings)
Partner BankEvolve Bank & Trust (FDIC Member)
Advance LimitUp to $500
Monthly Membership Fee$1
FeaturesExtraCash™ advance, Budgeting tool, Side Hustle feature, No Overdraft fees, Early paycheck access
Supported PlatformsiOS, Android
Services OfferedFinancial services, Banking services, Cash advance services
Company TypePublic Company
Operating StatusActive
Address12401 W Olympic Blvd, Los Angeles, CA 90064, United States
Phone Number855-322-8398
Social MediaFacebook, Twitter, Instagram, LinkedIn
Email Supporthelp@dave.com
Security Measures128-bit encryption, two-factor authentication, FDIC-insured up to $250,000
Membership PlanDave Banking with Benefits ($120/year)
Direct Deposit FeatureYes, get paid up to two days early
Invite-a-Friend FeatureYes, get $15, gift $15
ATM Network37,000+ fee-free ATMs through MoneyPass
Languages SupportedEnglish
Dave RewardsEarn up to 15% cash back at participating businesses
Available InUSA only

Who Benefits Most From the Dave App?

Dave is best suited for individuals in need of short-term financial support. The app is an excellent tool for those who don’t follow a regular paycheck schedule but have consistent income. It serves as a lifeline for handling small emergency expenses that can be paid back with your next paycheck. Additionally, those with a checking account that consistently receives deposits will find Dave App particularly beneficial.

Who Might Not Find the Dave App Beneficial?

While Dave offers an array of advantageous features, it may not be suitable for everyone. The repayment plan might be too rapid for those who need more time. If you are in need of a long-term payment plan, traditional personal loans or credit cards may be a better option. Also, if you frequently spend more than you earn or require low-fee, same-day cash, Dave might not be the right solution for you.

Balancing the Pros and Cons

The Bright Side: Advantages

The Dave app brings to the table several advantages that make it an appealing financial tool for many users.

  • No Interest Cash Advances: Dave offers cash advances up to $500 without any interest or fees. This feature can help you tide over until your next paycheck without incurring high-interest debt.
  • No Overdraft Fees: One of the standout features of Dave is its commitment to never overdraft accounts. If you don’t have sufficient funds to repay your advance on the due date, Dave will only deduct the amount you have available.
  • Helpful Financial Management Features: Dave not only provides cash advances but also includes automatic budgeting tools, balance updates to prevent overdrafts, and connections to side jobs for earning extra money.
  • Flexible Tipping: Tipping is optional on Dave, meaning you can choose how much to tip based on what you feel comfortable with, up to 25% of the advance.

The Downside: Disadvantages

While the Dave app provides many beneficial features, it’s important to consider the potential drawbacks as well.

  • Monthly Membership Fee: To access the cash advances, users must pay a $1 monthly subscription fee. While this fee is relatively small, it’s an extra cost to consider.
  • Short Repayment Terms: The repayment of the advance is typically due on your next payday, which may be too soon for some users.
  • Possible High Fees for Same-Day Funding: If you need your funds immediately, Dave offers an express transfer option, but the fees for this service can be high.
  • Small Maximum Advance: Although up to $500 may sound generous, in a major financial emergency, this amount may not be sufficient.

Key Features of Dave

Dave is a finance app designed to empower its users in managing their money more effectively. It provides a suite of features that cater to different financial needs, such as short-term cash advances, a user-friendly spending account, and opportunities to earn extra income. This Dave App Review looks into the five key features of Dave and elaborates on how each feature can help users on their financial journey. Each section contains a comprehensive understanding of what these features provide, thereby giving readers a detailed overview of Dave’s unique offerings.

1. ExtraCash™: Empowering Financial Freedom

Dave ExtraCash™, one of the company’s flagship features, stands as a beacon of financial empowerment for users. It is designed to provide users with up to $500 in advances, which can be spent immediately to cater to any urgent financial needs. The real beauty of ExtraCash™ lies in its transparency: it operates without hidden charges or surprises, making it a reliable lifeline during financial crunches.

Effortless Signup and No Credit Checks

Subscribing to the ExtraCash™ service is as simple as a few taps on your device. Unlike conventional loan services, ExtraCash™ liberates you from the hassles of credit checks. There’s no need for an inquiry or soft pulls to qualify for the service, which enhances its accessibility to a wider audience.

Flexible Repayments without Late Fees

ExtraCash™ redefines the concept of financial comfort by eliminating the pressure of late fees. With it, users can settle their advances on an agreed-upon date, without the added stress of accumulating penalties for delayed settlements. If you ever find yourself needing more time to repay, this solution offers a helping hand, not a late fee.

Instant Spendability and Additional Rewards

The convenience of ExtraCash™ extends to its spendability. Users can instantly transfer their advance to a Dave Spending account. This option opens up the possibility of earning cash back on your Dave Debit Mastercard® through Dave Rewards, further amplifying the value of your advance. You also have the flexibility to transfer the funds to an external card for a small fee or to an external account without any charge.

Trusted by Millions

ExtraCash™ has made a profound impact on the financial health of millions of users since its introduction in 2017. With over 50 million uses, it has helped members avoid more than $1 billion in overdraft fees, echoing its commitment to creating a user-centric financial ecosystem.

Advanced Underwriting Model

The magic behind the ExtraCash™ feature lies in its sophisticated underwriting model. This proprietary system uses an array of financial health factors to calculate a feasible advance amount for each user. This ensures the advance helps users without pushing them further into financial hardship.

How Does the ExtraCash Really Work?

The ExtraCash™ feature on the Dave App functions as a mini, no-interest loan service. Users are granted the ability to borrow up to $500 without the need for a credit check. Upon approval of an advance, the borrowed amount is either transferred to your Dave Spending account or an external bank account. The repayment process is automated, with Dave withdrawing the payment from your account on the nearest payday after the advance. If the account balance is insufficient, Dave smartly takes partial amounts until the debt is settled, ensuring no overdraft fees.

How to Qualify for Dave’s ExtraCash Advance

To qualify for an ExtraCash advance, you need:

  • A minimum of three recurring bank account deposits.
  • Monthly deposits totaling at least $1,000.
  • At least a 60-day history with your bank account.
  • To pass an identity verification and fraud detection.
  • To be at least 18 years old and live in the United States.

In conclusion, ExtraCash™ is not just an advance service; it’s a commitment to creating an environment of financial resilience for all its users. By prioritizing transparency, flexibility, and the immediate availability of funds, it stands as a substantial aid in times of financial need.

2. Dave Spending Account: Seamless Money Management

The Dave Spending Account is a robust, user-centric financial tool that brings a suite of features designed to simplify and enrich your money management experience. Whether it’s earning cash back with your Dave debit card, getting paid early, or having immediate access to ExtraCash™ advances, the Dave Spending Account has it all, fine-tuned to empower your financial journey.

Comprehensive Inclusivity and Accessibility

Embodying the core principle of inclusivity, the Dave Spending Account has no minimum balance requirements. This aligns with Dave’s belief in offering everyone an equal shot at improving their financial standing. With immediate access to ExtraCash™, the account also ensures you can swiftly manage any sudden financial needs.

Automated Budgeting and Widespread ATM Network

The Dave Spending Account includes an automated budgeting tool, giving users an accurate projection of their safe spending limits while ensuring bill payments. Furthermore, with a network of over 37,000 MoneyPass ATMs, Dave users can enjoy convenient cash withdrawals free of ATM charges.

Real-Time Support and Hassle-Free Account Opening

Dave offers readily available professional support directly through the app, ensuring users always have help when they need it. Setting up a Dave Spending Account is an easy, streamlined process. You simply download the app and set up your account within minutes, eliminating the need for bank visits or lengthy queues.

Exclusive Perks: Early Paychecks and Dave Rewards

Dave Spending Account users enjoy a range of exclusive benefits. By setting up direct deposits, users can gain early access to their paychecks. The account also forgoes late fees and minimum balance fees, putting a user-friendly spin on banking. Dave Rewards sweetens the deal further, allowing users to earn up to 15% cash back from daily spending at select retailers.

Robust Security and Various Cash Deposit Options

Dave prioritizes user security, providing robust protection measures for each account. Every Dave Spending Account is FDIC-insured up to $250,000 through the partner bank, Evolve Bank & Trust, a member of FDIC. Depositing cash into the account is straightforward, with options including direct deposit, one-time or recurring bank transfers, or cash deposits at various stores.

Effortless Goals Account Setup

Setting up a Goals Account within the Dave Spending Account is easy. Users can name their goal, specify a target amount, and set a timeline for their savings. This feature allows for updates and changes to your goal details at any point, offering a customizable savings journey tailored to your specific circumstances.

The Dave Spending Account, with its myriad of features and benefits, is more than just a banking account. It is a comprehensive financial management tool designed to empower its users, offer convenience, and foster financial health.

3. Side Hustle: An Opportunity to Boost Income

Side Hustle by Dave is designed to offer local, flexible job opportunities that can fit within your schedule. This feature is all about providing an extra source of income to cushion your budget against unexpected expenses. Users can explore and apply for jobs from Dave’s network of partners right from their phones, providing an efficient way to find additional work opportunities.

Side Hustle also introduces Dave Surveys, a platform where users can browse thousands of surveys. For each survey completed, users earn cash instantly into their Dave Spending account, offering another efficient way to boost your income. This easy-to-use feature enhances financial resilience and adds a layer of flexibility to your income streams.

4. Goals Account: Smarter Savings Made Easy

The Goals account feature in Dave is designed to help users save for their next big milestone. Whether it’s a vacation, a new car, or tuition fees, a Goals account can help you reach your financial targets more efficiently. The account offers flexibility in terms of saving pace and withdrawals, allowing users to withdraw funds up to six times a month and adjust or cancel their Goal at any time.

Goals can be personalized by naming them based on what you’re saving for, thereby enhancing your motivation to reach your financial targets. Setting up automatic recurring deposits can expedite the process of achieving your goals, especially when paired with the Round Up feature in your Dave Spending Account. Round Up automatically rounds up your debit purchases to the nearest dollar and saves the change in your Goal, facilitating additional savings as you spend.

5. Security and Privacy: Ensuring Your Safety

Dave takes the security of its users seriously. Users can rest assured knowing that their Dave Spending accounts are backed by Evolve Bank & Trust and FDIC-insured up to $250K, providing protection from bank failure. Furthermore, Dave’s accounts are monitored 24/7 to protect against unusual activity and unauthorized logins from suspicious devices.

Dave also offers separate virtual cards and physical debit cards, each with unique numbers. If your physical card is lost or stolen, it can be frozen from the app, allowing the digital card to be used safely.

The app also boasts enhanced fraud monitoring systems to identify and manage any suspicious and fraudulent activity, offering additional layers of security to users. The Dave Debit Mastercard® comes with Zero Liability protection, providing coverage if fraud occurs.

Users are kept in control with real-time transaction alerts, allowing for swift action against any fraudulent activity. Cards can be easily frozen, replaced, or the PIN changed if any unrecognizable transactions are spotted. To round off its robust security measures, Dave provides real-time support from trained professionals, ensuring any concerns or queries are addressed promptly.

In conclusion, the suite of features offered by Dave empowers its users to take control of their financial health and future. The focus on ease-of-use, inclusivity, and security sets it apart, providing a valuable tool for users to navigate their financial journeys.

How to Sign Up for the Dave App?

Getting started with the Dave app is a simple, user-friendly process. To make use of Dave’s broad range of financial tools, follow the steps below to set up your account.

Step 1: Create Your Account. To initiate your journey with Dave, you need to create an account. This process can be completed online by providing your preferred username, a secure password, and your valid mobile number.

Step 2: Download the Dave App. After successfully creating your account, the next step is to download the Dave app on your mobile device. You can easily find the app in the Apple App Store for iOS devices or Google Play Store for Android devices. Just search for ‘Dave’ and click on ‘Install’ or ‘Get’ to download the app.

Step 3: Link Your Bank Account. The eligibility to use Dave’s services requires you to have a bank account that consistently receives direct deposits. After your account has received at least two direct deposits, you will become eligible for Dave’s advance services. This is to ensure your ability to repay the advance, safeguarding your financial health.

Note on Eligibility and Credit Checks

It’s important to note that Dave puts a premium on user financial health. Therefore, before granting an advance, Dave ensures that you’re financially capable of repaying it. However, there are no stringent credit criteria to meet, as Dave does not conduct credit checks. This is part of their effort to provide accessible financial solutions to a wider user base.

In conclusion, signing up for the Dave app is a quick and hassle-free process designed to help you access an array of financial tools tailored to enhance your financial freedom and wellbeing.

Dave App Reviews and Ratings

When it comes to choosing a financial management tool, the reviews and ratings from existing users provide valuable insights. The Dave app has received numerous reviews across different platforms, highlighting its benefits and effectiveness in managing personal finances.

SourceRatingNumber of Ratings and Reviews
Better Business Bureau (BBB)A+N/A
Google Play Store4.3475,000+
Apple App Store4.8630,000+
Product Hunt4.0500+

These reviews paint a largely positive picture of Dave, showcasing its reliability and user-friendly features. On the Google Play Store and the Apple App Store, Dave continues to receive high ratings, with 4.3 and 4.8 respectively, demonstrating strong overall user satisfaction. This speaks volumes about the app’s performance and its user experience on both Android and iOS platforms.

On Reviews.io, Dave has a rating of 3.5, suggesting room for improvement in certain aspects according to the users of that platform. Finally, on Product Hunt, Dave has a rating of 4.0 based on the feedback from a community interested in innovative products.

Despite variations across different platforms, the overall consensus is that Dave provides a valuable service, helping its users to navigate their financial landscape more efficiently. The vast majority of reviews applaud the cash advance feature and the built-in budgeting tools, indicating that Dave is successfully accomplishing its mission of preventing bank overdrafts and helping people avoid hefty bank fees.

What Customers are saying

  1. Best app for a quick cash advance! I have used this app multiple times when I was in a bind. The cash advance is interest-free and has been a lifesaver. The app also has budgeting tools and helps monitor my account for potential overdrafts.” – John D., Google Play Store
  2. Incredible customer service! I’ve had some issues with the app, but the customer service team was responsive and resolved my concerns quickly. Also, the cash advance feature saved me from several overdraft fees.” – Susan M., Apple App Store
  3. Amazing app for financial management. This app has helped me manage my finances better. The early paycheck feature is awesome. It’s like having a mini financial planner in your pocket.” – Michael B., Trustpilot
  4. A lifesaver! Dave has been a lifesaver for me. The cash advance has helped me cover unexpected expenses and the automatic budgeting feature keeps me on track with my finances.” – Lisa P., Product Hunt

Please note that these are representative of a range of reviews and, as with any service, individual experiences can vary.

Comparing the Dave App with Other Options

When selecting a financial management app, it is essential to compare the services, features, and benefits of different platforms. This will ensure that you choose an app that aligns with your personal financial goals and needs. Below is a comparison table of Dave and some of its top competitors in the market.

AppLoan AmountFee-FreeSpeedFast-funding feeCashback RewardsNo Overdraft FeesMonthly FeesPlansApplication
AlbertUp to $250InstantNoneNoYes$0 – $4
(Albert Genius plan)
Free and PaidClaim this offer
Brigit$20-$2501 to 3 days$0.99NoYes$9.99Only PaidClaim this offer
CheeseN/AN/ANoneYesYes$0Only FreeClaim this offer
Chime$20-$200InstantNoneYesYes$0Only FreeClaim this offer
DaveUp to $5002 to 3 days$1.99-$13.99YesYes$1Only PaidClaim this offer
EarnInUp to $100 per day,
$750 per pay period.
1 to 3 days$1.99-$3.99NoYes$0 – Pay what you think is fairFree and PaidClaim this offer
Klover$5-$2003 business days$2.99-$20.78NoYes$0Only FreeClaim this offer
MoneyLion$10-$50012 hours to 5 days$0.49-$8.99YesYes$0 Only FreeClaim this offer
SoFiN/AN/ANoneYesYes$0Only FreeClaim this offer

All these financial apps offer various features and benefits, with some commonalities and some distinctions. Let’s delve into more specific comparisons with some of these competitors.

Dave vs. Chime

Chime and Dave both provide users with cash advances and do not charge overdraft fees, a significant advantage for individuals seeking short-term financial relief. Chime offers a feature where you can get your salary two days early, similar to Dave. However, Chime differentiates itself with an automatic savings feature that rounds up your purchases to the nearest dollar and transfers the difference to your savings account. (See Chime Review)

Dave vs. SoFi

SoFi stands out with its broad range of financial services, including investment options and loans. Unlike Dave, SoFi doesn’t provide cash advances, but it does offer cashback rewards. It also promotes financial literacy with a variety of educational resources to guide you in making informed financial decisions. (See Sofi Debit Card and Sofi World Mastercard)

Dave vs. Albert

Albert, like Dave, provides cash advances to help users handle short-term financial requirements. However, it lacks a cashback rewards program. A unique feature of Albert is its automated savings tool, which studies your income and expenditure patterns to determine an amount you can comfortably save each week. (See Albert Debit Mastercard)

Dave vs. Cheese

Cheese is a unique financial platform catering primarily to the Asian community in the United States. While it doesn’t offer cash advances like Dave, it does provide cashback rewards and charges no overdraft fees. Additionally, Cheese offers a zero-fee banking service, which is an attractive feature for those looking to avoid unnecessary banking costs. (See Cheese vs Self)

Remember that choosing the right financial app depends on your personal needs and financial goals. Consider all the features, benefits, and potential drawbacks before making a decision.

The Bottom Line

In conclusion, Dave is a dynamic and feature-rich financial app designed to streamline personal finance and eliminate the pain points associated with traditional banking methods. Its standout features such as the ExtraCash™ advance, the Dave Spending Account, and ease of signup provide a comprehensive financial solution that adapts to the needs of modern users.

The glowing reviews and positive ratings across multiple platforms further attest to Dave’s commitment to providing excellent service. While there’s competition in the market, Dave’s unique selling points, such as zero overdraft fees, cashback rewards, and a simple fee structure, often make it a preferred choice among users seeking financial empowerment.

However, like all financial tools, it’s essential to understand your own needs and requirements before choosing an app. Each app comes with its unique offerings, and a comparison with other market players like Chime, SoFi, Albert, Brigit, Cheese, MoneyLion, Klover, and EarnIn reveals a diverse range of features that cater to different user needs.

In short, Dave remains a strong contender in the financial app space, delivering on its promise of financial freedom with its array of services. Its commitment to user-centric design, transparency, and an empowering approach to finance make it a tool worth considering for anyone looking to upgrade their financial management experience. Whether you’re just starting your financial journey or seeking better ways to manage your money, Dave provides a flexible, inclusive, and user-friendly platform that’s worth a look.

Frequently Asked Questions (FAQs)


This Dave App review was curated through a detailed analysis of the Dave banking solutions, focusing on the features it offers, its ease of use, fees, and user feedback. The comparison with other apps in the market provides an understanding of where Dave stands amidst the competition. With an objective approach, the review provides valuable insights into the app’s functionality, helping users make informed decisions.

Please note, all the information is as of May 2023, and changes may have occurred after this date. Please refer to the app’s official site for the latest updates.


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