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About Dave
Dave is a mobile app-based banking solution with a $1 per month membership fee. Members have access to a spending account, a debit Mastercard, no-fee cash advances up to $250, credit-building tools and an automatic budgeting feature. Customer service is available by chat six days a week and by phone seven days a week. Ten million people use Dave for banking, according to the company.
Pros & Cons
Pros
- Easy to sign up
- Free rent and utility payment reporting
- No-interest advances up to $250
- Early direct deposit funds
Cons
- Membership fee
- No savings account option
Bottom Line
Dave is a mobile banking solution. Members pay $1 per month for access to a spending account, Mastercard debit card, cash advances and other services. Dave charges no overdraft fees and has no minimum account balance.
What is Dave?
Dave is a fintech company that partners with Evolve Bank & Trust to offer a spending account, a debit Mastercard and other services to members who pay a $1 monthly fee. As a Dave member, you can withdraw money at no charge from any MoneyPass ATM, get up to $250 in cash advances with no fees and build your credit history through rent and utility payments.
The Dave app launched in 2017 with a goal to “level the financial playing field,” according to the company. It has no minimum account balance and charges no overdraft fees. Members also benefit from early access to direct deposit funds, an automatic budgeting tool and the “Side Hustle” job search feature.
How does Dave work?
You can sign up for Dave using the mobile app, available on Apple and Android devices. To qualify, you must be at least 18, have a physical address in the U.S. and have a valid Social Security number or Tax Identification Number. You enter your full name, phone number and email address, and Dave runs a security check. No credit check is required.
There is no minimum deposit required to open a Dave spending account. There's also no minimum balance requirement to keep a Dave account open. As a member, you pay a fee of $1 per month for account monitoring, budgeting features and notification services.
Dave services
Dave’s primary services are a demand deposit account — another term for a checking account — and a debit Mastercard. Other features from Dave include:
- Cash advances: Cash advances of up to $250 are available to qualified Dave members. When you request an advance, you select an automatic payback date, which should be your next payday. No credit check is required, and Dave doesn’t charge interest on advances.
- Credit building: Dave partners with LevelCredit to report rent and utility payments to the credit bureaus to help you improve your credit score. This service is free for members who set up direct deposits.
- Budgeting: Using the app, you can add expenses, view your budget and see “Yours to spend” predictions. Dave can text you if a bill is going to put your monthly budget in danger.
- Side Hustle: Dave can help you find opportunities to make extra money. You can apply for local jobs directly online.
- Early direct deposit: Depending on your employer’s payroll policies, you may be able to access your paycheck up to two days early.
Dave prices
Dave membership costs $1 per month. The checking account has no minimum balance and no overdraft fees. You can withdraw money free from any MoneyPass ATM; there's a $2.50 fee for withdrawal from an out-of-network ATM and a 3% fee on withdrawal from a foreign ATM. Dave also charges 1% of the transaction amount for Apple Pay, Google Pay and debit card transfers.
Cash advances are free if you choose standard delivery (up to three business days), but you can pay an expedited fee to get the money within eight hours. This fee ranges from $1.99 to $5.99, depending on the advance amount.
Credit building through LevelCredit is free for Dave members who set up direct deposits that occur at least twice a month for a combined monthly amount of at least $1,000.
Dave FAQ
What bank does Dave use?
Evolve Bank & Trust holds all Dave member deposits and issues Dave debit cards.
Is Dave FDIC-insured?
Yes, Evolve Bank & Trust, which holds deposits, is FDIC-insured.
Does Dave affect your credit?
A credit check isn’t required to open a Dave account. Dave can actually help you build credit by reporting your rent and utility payments to the credit bureaus. This service is free if you set up qualifying direct deposits.
How do I cancel Dave membership?
You can cancel your Dave membership by contacting the company by chat (using the app) or by calling the phone number on the back of your debit card.
Is Dave legit?
Dave is a legitimate option if you’re interested in mobile banking. It partners with Evolve Bank & Trust, an FDIC-insured institution. For a fee of $1 per month, you have access to a spending account, a debit Mastercard, free cash advances and credit-building and budgeting tools. Signing up is easy and doesn’t require a minimum deposit. We recommend reading over Dave’s terms and policies first so you fully understand how membership works.
Dave Reviews
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Reviewed Oct. 18, 2023
I joined Dave accepted an advance and paid on time. When I went to re-advance, they told me no advance available. I waited few days later and same statement no advance available. Now I am without funds. Basically, they stole my money and kept for themselves. I deleted my account. This is highway robbery. Please shut them down. How are they doing this to people? How is this legal?
Reviewed Sept. 23, 2023
The app has gotten my information from 2 accounts, and it's done nothing. It just sits there, like I gotcha. With no backing what it claims. Someone doesn't know what they're talking about when it comes to this app.
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Reviewed Aug. 14, 2023
This company a complete rip off and scammers. I requested for advance I suppose to receive $25 August 12. Still haven’t received it as of yet. Paid for express. They charged a tip. This place need to be shut down. Scammers.
Reviewed Aug. 5, 2023
Do not bank here. I always have my physical card on me and they were telling me that someone got a hold of it and used it. I told them that is impossible as I am the only one who has it and access to it. I filed many disputes about un-authorized charges and they still have not answered and they took my whole check and did not give it back and closed my account. They are scammers and are always creating fraud and taking away people's hard earned money. Just be warned.
Reviewed Aug. 2, 2023
Basically I canceled my service some time ago and they still deduct money from my bank account, even though my account is closed. I tried calling the toll free number but I don't have a card associated with their service. So they basically hung up on me. Apparently they steal money from people and seem to get away with it.
Reviewed July 25, 2023
The Dave app is a complete rip-off. The moment they got my banking information, they took advantage of me. DO NOT download the app. Their bad reviews are warranted and they will be out of business soon. Do not get scammed.
Reviewed July 20, 2023
I pay my advance early every month and every month I have a problem getting another one if I need it. It's ridiculous. I have to sit on the chat with several different reps telling me the same thing over and over and still nothing, and still charging me the monthly account fee. When I finally spoke to someone it was a problem because my account balance was low BUT it wasn't when I repaid my advance. It is so frustrating!!!
Reviewed July 15, 2023
Dave Banking is rip off and fraud. Never got my card canceled at least 6 times and they still take the 1 a month out. I called them. Foreigners answer and are rude. You give them your address for verification and they said it's wrong. I don't know my own address??? Watch out. This is a scam.
Reviewed June 7, 2023
It just keeps getting worse! I used to like the Dave app. Now I despise it. I started using the Dave app shortly after they opened and only offered up to $75 advances. Well they offered a checking account and larger advances so I accepted and after 4 years of getting advances of $200 every single month. I was offered to upgrade my advances and get up to $500 by opening a Xtra Cash account. I foolishly accepted. That was about six months ago and my advance amount has dropped considerably. I've only been able to get $125 at the most and that's been very random. I've never been offered anything close to the $500 they said I could get if I opened the Xtra Cash account. Now I'm suddenly not eligible for an advance.
My pay has increased and my direct deposit goes into my Dave's account. The customer support people are pretty much useless because most of the time they are nonexistent. If somebody does contact me they say exactly what the Dave Bot says and they seem to not have access to my account or my history and have no knowledge of the issue I've been talking to them about for the last three months. The Dave app mislead me into believing I would get larger advances when in fact I got lower amounts and some months was never offered an advance. They are deceitful and should not be trusted with your finances.
Reviewed April 2, 2023
I’ve been with Dave for over a year. Accepted several advances and paid back as scheduled. No issues, until today when I noticed an early withdrawal to my checking account. I contacted Dave and explained the settlement date was not scheduled for today but next week. They sent me a screenshot, where someone obviously changed the date to today and said I agreed to the terms. Unbelievable. Buyer beware. Dave we go into your account whenever they like to make early withdrawals without your consent. I immediately closed my account and will never use them again. FRAUD!
Dave Company Information
- Company Name:
- Dave
- Website:
- dave.com
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