Dave Banking account review
Offers cash advances, no overdraft fees and automatic budgeting — but right now there’s a waitlist.
finder.com’s rating: 4.2 / 5.0
★★★★★Dave Banking is a mobile-only deposit account aimed at helping young savers build their credit, prevent overdrafts and learn to budget. But prospective new account holders are waitlisted.
$1 per month
How do I open a Dave Banking account?
Waitlist for a Dave Banking account using the following four steps:
- Go to the provider’s site and follow the steps to apply.
- From the Dave banking website, download the official Dave app from the Apple Store or Google Play.
- Click Sign up for Dave.
- Follow the prompts to go through Dave‘s tutorial and set up notifications.
- Connect an existing bank account.
- Click the Banking tab at the bottom of the screen and click Join Waitlist.
- At least 18 years old
- Government-issued ID
- US resident
- Social Security number
- Legal name
- US address
- Social Security or Tax Identification number
- Date of birth
- Government-issued ID number
What are the benefits of a checking account with Dave?
In addition to FDIC-insured deposits through Evolve Bank & Trust and its thousands of positive reviews in the Apple Store and Google Play, Dave has the following perks:
- Interest-free cash advance. In a pinch for cash? Get an advance from your next paycheck up to $200.
- No overdrafts. Dave uses AI technology to predict how much money you have left once bills are paid. If you’re going to overspend, Dave notifies you and offers an interest-free cash advance if needed.
- No fees. No minimum balance requirements, overdraft fees or ATM fees — even at non-network ATMs.
- Digital features. Freeze your debit card and send a paper check straight from your mobile app.
- Credit-building features. Boost your credit with CreditPop, a Dave partner that helps you report rent payments to major credit bureaus.
- Automatic budgeting. Dave creates an automatic budget based on past expenses.
- Side-hustle helper. Dave helps you earn extra cash through its partnerships with SurveyJunkie, Doordash, Lyft, Rover, Airbnb and other companies.
Dave‘s ATM network and fees
What should I look out for?
- New. Dave rolled out its checking account in June 2019, so the product is relatively young.
- No joint accounts. Only one person can manage the checking account.
- Membership fee. You’ll pay $1 a month for Dave, but you can earn a free monthly membership if you shop at qualifying merchants based on your location.
- Limited product offerings. Not ideal for those who want a savings account or other services.
Compare with other digital banking services
How do I deposit or withdraw my money?
- Direct deposit
- Mobile check deposit through the mobile app
- Direct transfer from another bank
- ATM using your debit card
- Cash back at a merchant
- Transfer to another bank
What other checking options does Dave offer?Dave only offers the Dave Banking account.
If you’re brand new to banking and looking for a no-fee challenger bank that helps you budget and manage funds, Dave is a solid option. But if you need a checking account now or are looking for one that offers more banking products, shop around for other accounts before you decide.
Frequently asked questions
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We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.