Pros
- Two delivery speeds. If you want to keep costs down, you can choose Dave’s standard delivery speed. But if you need funds quickly, Dave can process your request instantly for a fee which varies depending on the transfer amount and where the funds are transferred.
- No fees or interest. You don’t have to pay a fee or interest for the amount Dave advances you and tipping is strictly optional.
- Credit builder program is free for one year. Like many other cash advance apps, Dave offers a credit builder program, but it waives its $100 fee for one year.
Cons
- Limited advance amount. Dave offers advances of $500 or less, which may insufficient to cover larger expenses.
- Monthly membership fee. While cheaper than a short-term loan or an overdraft fee, you must pay Dave’s $1 monthly membership every month, even if you don’t use the service.
- Repayment due quickly. You’ll only have until your next paycheck to repay your loan. And for smaller amounts, you may not even have that long.
The Dave app is best for people who need a little cushion in their monthly budget. It provides up to $500 no-fee, no-interest cash advances to cover everyday expenses like grocery and gas. And if your employer supports it, you can set up direct deposit to a linked Dave Spending account and get your paycheck two days early.
While Dave doesn’t charge interest on its cash advances, users must pay a $1 monthly membership fee and tips are encouraged. By comparison, some cash advance apps are free, but $1 a month is still far less than what other providers, like Brigit, are charging for monthly memberships.
With Dave, you have two delivery options for cash advances: standard or express. Standard delivery is free, but it may take up to three business days to reach your bank account. Express delivery sends funds to your debit card within eight hours, but there is a fee for this service which varies depending on the transfer amount.
The Dave app gets positive ratings on Google Play and the App Store, but many users complain about the app not working as expected. The company has also garnered over 1,300 complaints on the Better Business Bureau (BBB) website, with users mentioning unexplained holds on funds and not being able to cancel the service easily.
Dave offers three types of services: a cash advance service, mobile banking services and personal financial management services to help manage your budget and avoid overdrafts. To get started with Dave, download the app to your phone and sign up by providing your name, mailing address and email.
Features
- Maximum withdrawal: $500
- Cost: $1 monthly membership fee
- Turnaround: Up to three days for standard delivery, and less than eight hours for express delivery
Requirements
While Dave doesn’t check your credit score, it does ask you to meet some income requirements:
- Proof of consistent income. You’ll need to show at least two direct deposit paychecks to your bank account from your employer.
- Extra money in your bank account. Dave wants to see proof that you have some money left over in your bank account after you pay your bills.
Other features
To help you build your credit score, Dave partners with CreditPop, which allows you to report your rent and bill payments to the major credit bureaus. Dave normally charges $100 a year for this service, but it’s free for one year when you set up direct deposit to a Dave Spending account.
How Dave’s banking features work
| BBB accredited |
Yes |
| BBB rating |
B |
| BBB customer reviews |
1.25 out of 5 stars, based on 273 customer reviews
|
| BBB customer complaints |
1,316 customer complaints
|
| App Store Score |
4.8 out of 5 stars, based on 558,100 customer reviews
|
| Google Play Score |
4.3 out of 5 stars, based on 406,775 customer reviews
|
| Customer reviews verified as of |
25 April 2022 |
Dave earns high ratings on review sites like Google Play and the App Store, but a closer look at comments reveals a lot of complaints mixed in with the positive reviews. Positive reviews mention how easy it is to sign up with Dave and connect your bank account — some report receiving funds within minutes.But many others complain about problems getting their income verified, not being able to log in and random bugs with the app. The Better Business Bureau website also seems to indicate a fairly high level of customer dissatisfaction too, with nearly 300 customers giving the company a poor service rating and over 1,300 customers registering complaints about Dave in the past three years.
Unlike a payday loan, Dave is only available in relatively small amounts. Here’s how the two options compare:
| Amount | Up to $100 | Typically up to $1,000, and most states allow only one at a time |
| Turnaround time | Less than 8 hours with express delivery, up to 3 days with standard delivery | Typically next business day |
| Application process | Simple mobile app, requires Social Security number and connection to your bank account and debit card | Simple online application, typically requires Social Security number and bank account numbers |
| Costs | No interest or fees, no obligation to tip, $1 monthly membership fee | High interest rates that can equal fees of $15 to $25 per $100 borrowed |
| Availability | Anywhere in the US | Prohibited in some states |
In general, yes — but no app can guarantee your information stays 100% secure. Dave does its part by using a 2048-bit encryption system to keep any personal details you enter in the app safe from hackers.
Your banking information is always stored offline, and a security team monitors Dave’s data center 24/7. All of this is in addition to the firewalls and other security precautions it has in place.
Must read: Dave suffered a security breach in July 2020
In July 2020, Dave had data on 7.5 million users stolen — including full names, birth dates, phone numbers, emails and home addresses. Encrypted passwords and Social Security numbers were also taken, but Dave has not reported any instances of hackers accessing user accounts.
While this does mean current users should change their passwords for Dave and ensure their accounts are safe, it doesn’t indicate a lack of security on Dave’s part. In fact, Dave quickly notified news outlets and is working to inform its users. And because of its multifaceted encryption system, both passwords and Social Security numbers are safe.
Dave can help if you’re on a tight budget and find yourself needing a little extra money to cover you until your next paycheck. But if you need more than $500 — or don’t have a consistent source of income — Dave may not be for you. Instead, you can browse other cash advance apps or read about alternative short-term loan options if you think you’ll need a larger loan amount.
Compare Dave with other apps
Compare similar apps for to get an advance before your next paycheck
March 11, 2020
How can I cancel my membership for this?
March 12, 2020
Hi Barbaraa,
Thanks for your comment and I hope you are well. As it says on the information above:
Yes, you can cancel your Dave membership. You’ll have to do more than just delete the app from your phone. To deactivate your profile, follow these steps:
Open the Dave app and click the icon in the bottom right corner.
Click Account.
Scroll down and click Dave membership.
Click Cancel Dave Membership.
Select the reason why you want to cancel and click Delete.
If you want to reactivate your account, there will be a two-month cool-off period before you can get another advance.
Hope this helps and feel free to reach out to us again for further assistance.
Best,
Nikki
July 3, 2019
I have been trying for 5 days to update my debit card number, it’s the same bank. I keep reading to click on account/profile and edit the card there.. THERE IS NO INFO THERE!!! When I click on the account button there is only a picture of me that’s it!! This is frustrating and the customer service sucks I’ve sent multiple emails
July 4, 2019
Hello Nunya,
Thank you for contacting Finder.
If you’re updating your card information, here are the steps to update your debit card:
– From your Dave Profile, click on your current debit card
– Click the debit card again
– Click I got a new debit card
If you want to change your bank account.
– Go to the profile section of the app
– Look at your Account Information
– Click on your bank under “Connected Account & Debit Card”
– There, you’ll see an option to “Change” bank
– Select your new bank and enter your new login information
Hope this helps.
Regards,
Faye
June 29, 2019
Haven’t receive my advance is 5days. How do I cancel so I won’t get charge on payday for money I didn’t receive
June 30, 2019
Hi Connie,
Thanks for your inquiry.
To cancel and deactivate your profile, follow these steps:
1. Open the Dave app and click the icon in the bottom right corner.
Click Account.
2. Scroll down and click Dave membership.
3. Click Cancel Dave Membership.
4. Select the reason why you want to cancel and click Delete.
5. If you want to reactivate your account, there will be a two-month cool-off period before you can get another advance
I hope this helps.
Kind regards,
Bella
May 27, 2019
I was able to get an advance and I paid it back on my payday. Then went back to apply for another advance, and they said I have less than 60 days of transaction history.
May 27, 2019
Hello Nicole,
Thank you for your comment.
Dave needs to have 60 days of transactional history in the checking account that you’re requesting the advance to be deposited into, when requesting an advance.
If you’re seeing this message, it likely means that your bank has not sent Dave 60 days of transactional history or your bank account is less than 60 days old.
They will have to wait until your bank sends them information.
Regards,
Jhezelyn
May 1, 2019
I typed in my last name wrong and did not realize it before I verified it. How do I change it?
May 2, 2019
Hello Kaitlyn,
Thank you for your comment.
If you’re updating the last name entered for the card information, here are the steps to change your bank:
– Go to the profile section of the app
– Look at your Account Information
– Click on your bank under “Connected Account & Debit Card”
– There, you’ll see an option to “Change” bank
– Select your new bank and enter your new login information
Hope this helps.
Regards,
Jhezelyn