Dave Checking Review 2025
- Dave is a fintech company, not a bank, but it offers banking services through its FDIC-insured partner, Evolve Bank & Trust.
- Dave's ExtraCash account offers users access to instant cash advances with minimal hassle.
- Customers pay a monthly $1 subscription fee to use the app’s features.
Dave is a financial app that allows you to spend, save, and even earn extra money all in one place. Its features are available for a low $1 monthly membership fee.
If you’re interested in opening a new spending account but want something other than a traditional bank, learn how Dave’s checking account alternative works.
Dave Checking Account: A Comprehensive Dave Banking Review At-a-Glance
Dave makes managing your money simple and accessible. Dave offers comprehensive financial management services, including budgeting, savings, and expense tracking, to help you achieve your financial goals.
Introduction to Dave: What Is Dave Checking?
Dave is a financial management service designed to make banking easier and more accessible for everyone. Through its partnership with Evolve Bank & Trust, member FDIC, Dave provides users with a suite of banking services right from the Dave app. With features like cash advances, budgeting tools, and a convenient debit card, Dave helps users manage their money and avoid costly overdraft fees.
One of the standout benefits of the Dave app is the ability to access direct deposit funds up to two business days before your scheduled payment date. The Dave debit card, issued through Mastercard, allows for hassle-free spending and easy access to your funds, making everyday transactions secure and straightforward.
Overall Impression of Dave Checking Account
Dave might appeal to people who are comfortable using a mobile app and want access to features that traditional banks and credit unions don’t offer.
Here are some other standout features of Dave you should know about:
- Setting up a Dave Spending Account and earning an outstanding rate with a linked Goals account is quick and easy. Account terms and disclosures can be found in the Dave checking deposit agreement.
- You can enroll in direct deposit to get paid early.
- Dave also offers the ExtraCash feature, which can put $500 in your account in as little as five minutes. Not all members qualify for the maximum amount; eligibility depends on factors such as recurring deposits and account activity.
- No minimum balance requirements make Dave more accessible than many traditional banks.
The Goals account is designed to help users save for specific objectives, and Dave simplifies saving by making the process straightforward and user-friendly.
If Dave has a hitch, it’s the membership fee you have to pay to access the app’s various features. However, at $1 per month, this subscription fee is much lower than what traditional banks often charge for a checking account.
Compare the Best Checking Accounts Online and Find Your Match
Finding the best checking account to meet your needs is as simple as skimming the listing below. Compare checking accounts and find the best bonuses and lowest fees today.
Pros and Cons of Dave Checking
Going mobile with banking can have advantages and disadvantages. If you’re considering switching from traditional banking, it’s helpful to weigh both sides and research Dave banking reviews.
Pros
- Dave charges no overdraft fees, minimum balance fees, or hidden fees.
- You can skip ATM fees and avoid network fees by using in-network ATMs.
- Transfer money effortlessly, including external debit card transfers for quick access to funds.
- Having a debit card linked to your account allows for hassle-free spending and instant access to funds.
- Users can manage multiple bank accounts within the app.
- Even though Dave is not a bank, your accounts are still protected by FDIC insurance.
- If you need money quickly, you can get interest-free cash advances or deposit cash at selected retail locations.
- Saving with Dave can pay off since the APY is well above what traditional banks typically offer.
- Spending with your Dave debit card can earn you up to 15% cash back on eligible purchases.
- No Dave deposit limits
Cons
- Some users have reported concerns about undisclosed fees.
- Overdrafts are not charged, and there is no overdraft fee equal to a percentage or flat amount.
- A linked bank account is required for certain features.
- There are no branches, so you must be comfortable with online and mobile banking.
- Dave requires a monthly membership fee to use the app’s features.
- Customer support hours are limited.
Compare Dave Checking to Other Checking Accounts
Dave Checking is one of many options when you need a new bank account, especially if you want to borrow money quickly without a payday loan. Dave offers alternatives to traditional payday loans, giving users fast access to cash advances and flexible repayment options.
Comparing other banks can help you narrow down the features you need and want most. Some competitors also offer credit-building tools to help improve your credit score and income opportunity services like side gigs and surveys to supplement your income.
Chime
Chime offers online banking with no monthly fees. You can spend with the Chime account and pay no overdraft fees, monthly fees, minimum balance fees, or foreign transaction fees. You also have the option to withdraw cash fee-free at more than 60,000 ATMs.
Like other mobile banking apps, Chime allows you to get paid up to two days early with direct deposit. You can also save with Chime, though you won’t earn interest on balances.
You can deposit cash into a Chime account at Walgreens and Duane Reade locations for free if you need to.
Upgrade
Upgrade offers rewards checking accounts with no fees. You can earn up to 2% back on purchases when you set up a qualifying direct deposit each month. You also enjoy other benefits, including:
- Competitive APY on savings
- Interest rate discounts for Upgrade loans
- Up to 10% cashback when you shop select stores in partnership with Dosh
Like other online banking apps, there are no branches. But you might consider this checking account if you already have an Upgrade loan or plan to apply for one.
Varo Bank
Varo’s online bank account has no hidden fees. It includes a cash advance feature that lets you get up to $500 when you need money quickly. You can pay it back without interest, and Varo deposits are FDIC insured.
You can get paid early with direct deposit and send or receive funds at lightning speed with Zelle. With the Varo Believe Card, you can build credit with everyday purchases. You can also save with Varo or file your taxes online for free, making it a comprehensive money management app.
Rating the Features of Dave Checking
Reviewing the features and benefits of a new bank account is helpful anytime you’re considering changing. Here’s what makes Dave unique in the banking landscape.
The Dave checking account streamlines your banking activities by simplifying access to cash, managing funds, and avoiding traditional banking fees. With Dave, you can transfer money effortlessly, thanks to features like instant transfers and seamless account management. External debit card transfers are available for quick access to funds, often within an hour, though a small fee may apply. You can also link your Dave account to external bank accounts, making it easy to move money between accounts and manage your finances all in one place.
Fees and Monthly Membership Fee
Dave doesn’t charge any hidden or undisclosed fees. However, you will pay a $1 monthly membership fee, which is a subscription fee, to use the app’s features.
Dave helps users avoid ATM and network fees by providing access to in-network ATMs, so you can withdraw cash without incurring extra charges. For instance, if you want to get up to a $500 cash advance interest-free, a $1 monthly subscription fee might be worth it. On the other hand, if you want a free checking account option, you may consider banking elsewhere.
Mobile Banking
Dave is designed for mobile banking. The app offers a user-friendly interface that’s easy to navigate. In addition to banking features, Dave provides comprehensive financial management services, including budgeting and savings tools to help users manage their money effectively. You can download the Dave app and set up your account in minutes.
If you need more information about how Dave works, the company’s website has answers to commonly asked questions.
Customer Service and Experience
If you have a question or problem, contact customer service by logging in to the Dave app.
The company’s website does not list a phone number or email for customer service, and no chatbot or live chat feature is available.
Tools, Extras
The Dave cash advance feature, Dave ExtraCash, is a nice addition you won’t always find at other banks. With Dave ExtraCash, you can request up to $500 through the Dave app and get the money deposited into your Dave account.
Members can access cash instantly via external debit card transfers (for a fee), or choose a standard transfer, which may take up to three days. Not all members qualify for the maximum advance—eligibility is based on recurring deposits and account activity. You can then settle up with Dave later without paying interest or fees. It’s a lower-cost alternative to a traditional payday advance loan or credit card cash advance. However, it’s important to remember that anything you’re advanced must be repaid when you get your next paycheck.
Access
Dave allows you to make fee-free withdrawals at more than 37,000 ATMs. Using in-network ATMs with your debit card linked to your account will enable you to skip ATM and network fees, making cash access more affordable. A linked debit card also allows easy access to funds at ATMs. You can deposit cash at Walgreens, CVS, and 1,000+ other locations. Keep in mind that a cash deposit fee may apply. You’ll also access multiple bank accounts through the Dave app 24/7.
Security & Fraud Protection
Dave takes customer security seriously and implements numerous measures to protect your information, including encryption technology. Deposits are FDIC insured up to $250,000 per depositor through Evolve Bank & Trust. FDIC insurance protects you in the rare event of a bank failure.
Minimum Balance, Deposit Requirement, and Direct Deposit
Dave has no minimum balance or minimum deposit requirements. No minimum balance requirements are imposed on Dave accounts, making them more accessible than traditional banks. You can open an account through the Dave app, link an external bank account, and make your first deposit later.
Cash Advance Options with Dave
Dave makes it easy to get a cash advance when needed most, helping you cover unexpected expenses and avoid overdrafts. With the Dave checking account, you can request cash advances ranging from $25 to $500, depending on your account activity and eligibility. The process is straightforward: use the Dave mobile app to request a cash advance, and the funds can be deposited directly into your Dave checking account or an external bank account.
Repayment is flexible and typically scheduled for your next payday or the Friday following your advance, giving you time to get back on track. Unlike many cash advance apps, Dave does not charge overdraft or late fees, and repayment extensions are available if you need more time. This makes Dave a more affordable and user-friendly alternative to traditional payday loans.
Whether you need to cover a bill before your next paycheck or want to avoid overdrafts, Dave’s cash advance options provide a quick, convenient, and transparent way to access extra funds. Research Dave app reviews to make sure Dave is right for you.
The ExtraCash Account: How It Works
The ExtraCash account is a unique feature within the Dave app that gives users access to instant cash advances with minimal hassle.
To start, you must open a Dave checking account and set up an ExtraCash overdraft deposit account. Your eligibility and the cash advance amount—up to $500—are determined by your income and spending patterns, so you can get the support you need based on your financial situation.
There’s a small monthly membership fee to maintain your ExtraCash account, but no hidden fees or interest charges exist. If you need your funds even faster, you can opt for an express fee to transfer money instantly to an external debit card. Otherwise, standard transfers to your external bank account are available at no extra cost.
No credit check is required to access ExtraCash, and you can link your external bank account to the Dave app for seamless transfers. Repayment is typically due on your next payday, making it easy to stay on top of your finances without worrying about fees or high interest rates. The ExtraCash account is designed for convenience, offering a hassle-free way via its cash advance app when you need it most, with minimal fees and flexible repayment options.
Frequently Asked Questions (FAQ)
Direct deposit is not required to use Dave, but setting it up can help you qualify for higher cash advances and access features faster.
Dave is a fintech company, not a bank, but it offers banking services through its FDIC-insured partner, Evolve Bank & Trust.
Yes, Dave offers a spending account (similar to a checking account) with features like no overdraft fees, a debit card, and access to early paychecks.
To qualify for up to a $500 advance, you must set up qualifying deposits, maintain a positive account history, and meet Dave’s eligibility requirements.
Dave’s checking (spending) account lets users manage money with no minimum balance, no overdraft fees, early paycheck access, and eligibility for cash advances.
