Dave is a legitimate banking app, backed by Evolve Bank & Trust — an FDIC member. That means its financial accounts are insured up to $250,000. The company has been in business since 2016, and is headquartered in Los Angeles, California.

How long does Dave app take to deposit money?

Dave transfers the funds into your account within three business days. However, you can expedite the process by paying an express funding fee. If you have a Dave Spending account, you could get the money within minutes by paying the express funding fee. For external accounts, the deposit can take up to an hour.

How to cancel Dave app?

You can cancel and close your Dave account at any time, without incurring any fees, as long as there is no outstanding balance. You can request cancellation through the company’s mobile app or by emailing support at support@dave.com.

reviews

Dave Pay Advance App: 2024 Review

Written by

Heidi Rivera

Edited by

Rhys Subitch

Updated on Jan. 8, 2024

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

Find my best rates

Check rate with Bankrate

4.7

Bankrate Score

Availability

5.0

Affordability

4.2

Customer Experience

5.0

Full methodology

Founded in 2016, Dave is a digital banking platform designed to help consumers avoid steep overdraft fees. Although cash advances are Dave’s primary area of focus, the company also offers checking and savings accounts.

Lender Details

Loan amount

Up to $500

Term lengths

Next payday or the Friday after taking out the advance

Dave pros and cons

Pros

Cash advances of up to $500
No late or overdraft fees
No credit check or minimum balance required

Cons

Monthly subscription fee
High express funding fees
Limited to one advance at a time

Best for consumers looking for a less expensive payday loan alternative

Dave offers cash advances of up to $500 — an amount similar to a payday loan. Although there’s a fee to get the funds within minutes, it is capped at $13.99, depending on the amount and account being used.

There’s no minimum account balance or credit check required to get approved. There are also no overdraft or late fees, and repayment extensions are available. This makes Dave a good alternative for those in a pinch, as its fees and repayment terms are much more generous than those of payday lenders.

How to qualify for a Dave advance

To qualify for Dave’s ExtraCash advance, you must satisfy the following requirements:

Be at least 18 years old.
Be a U.S. citizen or a permanent resident.
Have a Social Security number or tax identification number.
Have a valid email address and agree to electronic communications.
If linking your bank account, it needs to have been active for at least 60 days with a positive balance.
Have at least three recurring deposits.

Your actual cash advance limit will be determined by factors, like your income and spending patterns, according to the company.

Dave vs. Brigit

Brigit charges a subscription fee of $9.99 to be able to use its Instant Cash feature — much higher than Dave’s $1 subscription fee — and it has a much lower $250 limit.

If you sign up for Brigit’s premium subscription service, which goes for $14.99 a month, you don’t have to pay express funding fees. Additionally, Brigit’s subscriptions give you access to additional credit building and monitoring tools, which can be a lifeline for those looking to boost their scores.

Dave vs. Empower

Just like Dave, Empower charges a monthly subscription fee to use its cash advance feature. The fee, however, sits higher at $8 a month, and it caps advances at $250. Empower’s express funding fees are lower, however, ranging from $1 to $8, depending on the amount requested.

Dave Pay Advance App: In the details

Loan Amount

Up to $500

Term lengths

Next payday or the Friday after taking out the advance

Funds available in

Within 3 business days without a fee

What we like and what we don’t like

What we like

Cash advances of up to $500. Dave offers a generous maximum of $500, while most cash advance apps limit their loan amounts to $250 and under.
No late or overdraft fees. Dave’s cash advances were designed in part out of frustration with overdraft fees, which is why it doesn't assess this type of fee. But your account may be closed if you fail to repay within 60 days of your withdrawal.
No credit check or minimum balance required. You can request an advance without a credit check. Your cash advance limit is based on your monthly deposits, however, there is no minimum balance required.

What we don’t like

Monthly subscription fee. Dave requires users to pay a monthly fee of $1, while other cash advance services offer a free version.
High express funding fees. If you want to access the funds within minutes, you’ll need to pay an express funding fee of up to $13.99, depending on the loan amount and type of account you have.
Limited to one advance at a time. You can’t take additional advances until you pay off your outstanding balance.

How to contact Dave

Dave’s customer support can be reached through its mobile app chat feature from 6 a.m. to 4 p.m. PT, Monday through Sunday.

Live agents are available over the phone at 844-857-3283 from 5 a.m. to 9 p.m. PT, Monday through Friday, and from 5 a.m. to 5 p.m. PT, Saturday through Sunday. Customers can also contact the company via email at support@dave.com.

How to take out an advance with Dave

You can request a cash advance through the Dave mobile app in a few steps.

For this you’ll need to provide a few basic details, including your full legal name, phone number and email address.
If you don’t want to link your primary bank account, you can also choose to open a Dave checking account. At this step, you’ll be prompted to agree to the $1 monthly subscription fee.
Once your checking account is verified, you’ll be able to see the cash advance amount you’re eligible for.
You can add an optional tip or pay an express funding fee to get your funds almost immediately, instead of waiting up to three days. The fee will be based on your requested amount, plus type of account used.
Your cash advance amount will be automatically deducted from your account on your next payday. If the company can’t establish this date, your balance will be due one Friday from when you took the advance.

Dave features and perks

You can get access to a checking and savings account through Dave, regardless of if you choose to use the advance feature, but you will still have to pay $1 per month once you link an external bank account. The checking account offers rewards on your purchases, while the savings account allows you to earn a 4 percent APY, as of January 4, 2024.

Another perk of using Dave is that your cash advances never accrue interest, so you only repay the amount you borrow. Members also get access to quick cash earning opportunities through paid surveys and a side hustle job board.

Fees and penalties

One of the main advantages of using Dave is that it doesn’t charge any overdraft or late payment fees. However, the company does charge an express delivery fee to receive the funds within minutes, instead of days.

The express funding fee is based on the requested amount and the type of account being used for the transaction — ranging from $1.99 to $13.99. Additionally, Dave requires a $1 membership monthly subscription fee to use its services.

Dave frequently asked questions

Dave is a legitimate banking app, backed by Evolve Bank & Trust — an FDIC member. That means its financial accounts are insured up to $250,000. The company has been in business since 2016, and is headquartered in Los Angeles, California.
Dave transfers the funds into your account within three business days. However, you can expedite the process by paying an express funding fee. If you have a Dave Spending account, you could get the money within minutes by paying the express funding fee. For external accounts, the deposit can take up to an hour.
You can cancel and close your Dave account at any time, without incurring any fees, as long as there is no outstanding balance. You can request cancellation through the company’s mobile app or by emailing support at support@dave.com.

How Bankrate rates Dave

Overall Score	4.6	Explanation
Availability	5.0	Dave requires no credit checks, as well as no minimum account balance. Funds can be available within three business days without fees.
Affordability	4.2	Despite not charging late or overdraft fees, Dave requires users to pay a monthly membership fee. Additionally, express funding fees may be high if you don’t have a Spend account.
Customer Experience	4.7	Dave offers users multiple ways to contact its support team and has few complaints with the CFPB, granting it a solid reputation.

Methodology

To select the top cash advance apps, the Bankrate team evaluates companies using a 16-point ranking system, known as the Bankrate Score. The Bankrate Score focuses on three key aspects: availability, affordability and customer experience. These are the factors considered as part of each category:

Availability: Minimum and maximum loan amounts, overdraft protection features, repayment term lengths and funding timelines are taken into account as part of this section.
Affordability: For this category we looked at subscription pricing and free version availability. We also looked at additional tools and resources offered to users as part of the subscriptions, as well as any fees assessed by the companies.
Customer experience: Bankrate evaluates factors such as the company’s reputation through regulatory websites, like the Consumer Financial Protection Bureau (CFPB), as well as contact support options. Our team also favors apps that are highly rated and that give users the option to extend repayment in case of hardship.

Editorial disclosure: All reviews are prepared by Bankrate.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.