Dave Review 2024

This application is intended for those who require a small loan until the next paycheck or want to buy something urgently. Dave makes it possible to avoid overspending on your bank account. Users who have a Dave spending account have access to more credit than those who do not. The app also has a “Side Hustle” feature that helps users find part-time jobs to earn more money.

An in-app subscription costs only $1. In return, the company allows you to receive $250 in advances before payday without interest or administration fees. This advance is returned when your salary arrives in your bank account.

The app offers other features: an expense account, a free ATM/debit card, and budgeting tools. In this review of Dave, we will take a closer look at the principle of the application, compare the pros and cons of the company, and tell you how the application and support service work.

Dave Review

Pros and Cons of Dave

Dave has many functions. Not all of them meet all the needs of customers, but they still have their benefits. Over the past years, new opportunities have been added. Therefore, we allocated them to the list of advantages and disadvantages:


  • Lack of loan verification
  • Any credit rating is allowed
  • Lack of interest rates


  • There is no way to improve your loan
  • Lack of quick financing
  • Additional fees for additional services
  • Small loan amount

What is Dave?

Dave is an alternative to other applications for micro loans. You can not only get the money with Dave when you need it but also learn how to manage your finances, learn something new, and control your expenses. Because this is an application on your smartphone.

The monthly fee of Dave is only 1 dollar per month, which gives him an advantage over other platforms. For this subscription, you can get $250 through advances without interest or administrative fees.

With free use, you can take only $100 and get them in a couple of days. But it’s worth it. The company has an excellent corporate culture. She cares not only about her customers but also about the team. This affects the quality of the application. Every year, its functionality expands, which distinguishes it from competitors.

How does Dave Work?

The app connects to your existing bank account. To use this platform, you need a stable income and a valid bank account. These are the basic requirements for using this application to get a loan until the next paycheck. In addition, Dave will not perform a credit check on you as no consumer payment or credit history is required for use. This can be a lifesaver for those with less-than-stellar credit scores. Although, you won’t be able to increase or rebuild your credit if you choose.

The application also has a budgeting function with all the valuable tools. This way, you can save more by analyzing your transactions and managing each category of your expenses. With sound financial literacy, you can save up to $500 a year. The service provider also has a goals feature that you can use to help set and achieve your financial targets.

Dave has two options for using app accounts: free and paid. In the first, the minimum deposit is $5, and the maximum is $100. In the second, the membership fee is $1 monthly, and the maximum loan is $250. Dave charges several interest charges, but they are all optional. The app takes a fee from $1.99 to $5.99 to get you money faster. The fee varies depending on the amount of the loan. There is also an additional tip of up to 20% of the loan amount.

A new pilot program, ExtraCash, has recently emerged. ExtraCash is a DDA overdraft account with eligibility requirements. Now you can get more funds than ever –  up to $500 – and increase your credit simply by paying it back on time.

Features & Services of Dave

Dave provides various financial products and services. This is what makes the application attractive to millions of people. You can track your expenses and financial flows and make various plans for your income.

Dave’s tips will come in handy for that. Dave does not review your credit to decide if your account is eligible for an advance. Instead, the company uses machine learning to view information and make financial solutions.

It also analyzes how your income, spending habits, and the regular balance of your bank account affect your budgeting success. All you need to qualify for loan terms is at least two recent, matching, and regularly scheduled direct deposits to prove your income. Other features include:

  • Creation of credit. Dave is cooperating with LevelCredit. This collaboration allows users with a spending account to report rent and utility bills to major credit bureaus. Your timely in-app payments can help you increase your credit, but missed payments can hurt your credit. This can affect the rating, although Dev does not consider it when he gives you a deposit.
  • Expenditure account. The expense account holds deposits and makes transfers between it and other bank accounts. There is no minimum deposit or balance required to open or maintain an account. When you start cooperating on the platform, you will be issued a debit card. You don’t need Dave’s expense account to qualify for the advance.
  • Budgeting. The Dave app has a budget feature. It’s the ability to track your income and expenses to help you plan for upcoming bills and alert you if you’re at risk of overspending.
  • Side Hustle. This feature helps Dave’s clients find flexible jobs to generate additional income. Side Hustle includes different vacancies, such as courier, taxi driver, waiter, and personal driver. There is even an opportunity to find work at home and freelancing. Dave also has a feature to receive funds that are over $250. With the new ExtraCash add-on, you can borrow up to $500 to cover emergency expenses and unexpected financial decisions.

Dave Fees & Rates

The membership fee (or monthly fee) is $1. For subscription, you get not only new knowledge and control over financial flows but also the opportunity to get a loan up to $250. There are no Interest rates. It is a full 0%. But if you want to get money as soon as possible, then you will have to pay $4.99.

Dave does not have overdraft fees or requirements for a minimum balance on the card. The application is also not important for the rating of your credit account. Therefore, anyone with a paid subscription can use the additional function of the micro loan. And you can get your direct deposit two days earlier.

But it is worth mentioning Annual Percentage Rate. APR represents the annual interest rate charged when you request money in advance. It combines a nominal interest rate and additional costs that may be incurred when obtaining a loan.

However, it varies for quick loan options. Credit terms and conditions depend solely on the lender, based on the client’s credit score, income, credit history, and other factors. The lender must legally inform you of the annual interest rate and other loan terms before agreeing.

Some states have strict laws that limit the APR rates and fees a lender can charge a client. Only the lender can inform the client about specific rates and conditions following local law.

In case you borrow in Dave $100 seven days before your next paycheck, pay the $5.99 express delivery fee, $1 monthly subscription fee, and add a $1 tip, then the $100 loan will be worth $7.99. The annual interest rate on this loan will be above 400%.

Safety and Security of Dave

The app has thousands of positive reviews as it doesn’t charge any fee if it’s a restricted account. Dave has access to your account only for reading. It cannot change the settings or information there. The company uses 2048-bit encryption to secure the transfer of people’s data to the site Information such as passwords, social security numbers, and other sensitive data is encrypted.

Banking credentials are used only once to authenticate and confirm that the information provided belongs to the person who gave it. Credentials are not stored for online banking and will never be stored that way. Moreover, the account is additionally protected by passwords.

Customers must come up with a PIN and link their phone numbers. Since the application provides customers with multifactor authentication, automatic login, and identity verification, this is a high quality to prevent unauthorized access to money.

The company engages independent third-party application security experts to evaluate site performance and look for vulnerabilities. Dave also uses firewalls and other security measures for added protection.

Is Dave Legit?

BBB ratings reflect the opinion of experts on how the company will interact with its customers. It is formed by combining customer reviews and other information received about businesses.

The Better Business Bureau approves Dave’s loan services. However, the platform’s BBB Rating and accreditation is B. This means that Dave, according to people and experts, still has some flaws. Nevertheless, this assessment still means that the platform works quite well.

Dave Platform Supported

Dave is a money management app with a focus on overdraft protection. By linking your checking account to the app, Dave tracks your spending and sends text messages when you’re close to a negative balance. You can control your money through your smartphone or tablet anytime and anywhere.

To verify your account, the app scans your checking account history for regular recurring direct deposits. In addition to this, Dave takes into account how quickly you spend your paycheck after you receive it. As with other financial apps, safety comes first.

Dave has read-only access to your financial accounts, and all your sensitive data is encrypted. To take advantage of the valuable features of this platform, you need to download the app from the app store for Android or iPhone. It is available for free.

Customer Service at Dave

Being helpful is part of Dave’s DNA. If you have had problems with your credit score, applying on the Dave app can help you avoid problems and get financed even with a bad credit score.

If you have any problems with registering an account, you can contact the managers. And also get round-the-clock advice on all issues. The website has a good FAQ section where you can find most of the necessary information.

If you need some additional answers, it is possible to write to the mail indicated on the site or contact DaveBot, which is also there. The same is possible in the mobile application. The support service works from Monday to Friday, around the clock. Customer support is impeccable. Dave never contacts or calls his clients.

For Which Needs Dave Fits the Best?

The application is suitable for those who want a convenient budget control platform. An application that works with an already existing checking account.

Also, the application is suitable if you want to plan an advance payment and cover other expenses. Or have a current account that regularly receives loans. The app will also help you become more financially literate and learn how to manage your expenses and bills.

Each consumer who wants to use the Dave app is charged a $1 per month subscription fee. But there is an opportunity to get a small amount of money in a loan in the short term. Even if you have had some problems with your credit score, applying to the app can help you avoid problems and get financed even with a poor credit score.

It’s a good alternative to borrowing money from friends until the next paycheck. It will also suit you if you care about your income and want to understand rent and utility better. After all, the application gives good advice.

What are Apps Like Dave?

If you download the app, you won’t want to delete it. But Dave has alternatives. They are also very popular and have the same features. Brief information about three of them is presented below:

Loan app Loan amount Speed without paying a fee Fast funding fee Other fees
Earnin $25 – $250 12 to 48 hours. $0.99 – $7.99. None.
Brigit $50 – $250 1 to 2 days None. $9.99 monthly subscription fee.
MoneyLion $25 – $250 12 to 48 hours. $0.99 – $7.99. None.

The Review Process

You will like Dave. We conducted a lengthy professional review of the application and evaluated all criteria. We were guided by the rigid technical qualities of the platform, the company’s experience in the market, independent customer reviews, and expert assessments.

Furthermore, we also paid attention to the operation of the application and what interest and loans are given to customers. The review process took some time. We noted which banks Dave cooperates with, how quickly he processes applications, and whether there are any fines.

So we have chosen Dave. We have many years of studying the topic of lending behind us. We cooperate only with the best tools and organizations. We take full responsibility for the result of our review as we test applications, use all the functions, and conclude ourselves.

Is Dave Worth it?

Compared with similar applications, Dave’s subscription is worth a penny. And there are more benefits. After all, you can still get the same $250 loan and valuable tips on managing your finances. And if you want to become a member of the new ExtraCash program, you can get a maximum of $500 as a loan.

Of course, there are restrictions on the time of receipt of money. But, to speed up the process and same business day funds, you must pay $4.99. The app has thousands of positive reviews, as the app doesn’t charge any fee if it’s a restricted account.

You don’t pay interest, but you can pay extra tips to support the platform and increase your credit limit. Millions of people have already downloaded the app and rated it as a high-quality pocket assistant.

A helpful feature of Dave is that if there are not enough funds on your card, you will be notified via SMS or a mobile application. We highly recommend using Dave. You will not regret and learn much about your costs, and you can always get a small loan.

To ensure the highest level of transparency and to help you understand the basis of our evaluations, we invite you to explore our detailed review methodology


Yes, Dave works with Chime. There are no problems connecting the Chime account to Dave. Dave members can get up to $100 in advance with no commission.

Yes, it does. Dave automatically creates credit by informing credit agencies of day-to-day payments such as rent and utility bills.

You can use multiple cash advances in a month but can only have one outstanding at a time.

Dave does not manage your credit. He does not need to check your rating to decide if you are eligible for an advance. Instead, the company uses machine learning to view information such as your income, spending habits, and your regular bank account balance.

Dave does not directly affect your credit score. Dave does not check your credit history when you log in. And the app doesn’t report the repayment of your short-term loans to the credit bureaus.

Dave was created by Jason Wilk.  The Co-Foundes of Dave are Jason Wilk, Paras Chitrakar, John Wolanin. The company was founded in 2017.

Dave works with partner banks of Evolve Bank & Trust, which provides insurance to the Federal Deposit Insurance Corporation (FDIC).

Yes, you can do this. But remember that it is possible only after you pay back what you borrowed from Dave.

It takes up to three days to receive deposit money from Dave. If you pay the express shipping fee to get the money faster, the funds will be in your account within eight hours.

After you open an account or replace your Dave Debit Mastercard, it can take up to 10 business days to arrive. Account verification will take a couple of minutes.

If you have a paid subscription, you will get money instantly. Otherwise, you will have to wait a couple of days.

Dave provides an advance of up to $250 on your next paycheck. If you are a member of the new ExtraCash program, you can receive a maximum of $500.

If you don’t repay it on time, Dave can automatically withdraw money from your bank account. You will be responsible for any overdraft fees that come from your bank. You will also not be able to receive another advance until you have paid off the first one in full.

Dave works from Monday to Friday, 24 hours a day. The company operates the whole week to provide fast and high-quality customer service.