Dave App Review: How It Works, Fees and Is It Worth It?

The Dave app can be a convenient option for users who need a cash advance under $500. Dave doesn’t perform a hard credit inquiry or charge interest, making it an alternative to traditional borrowing options like personal loans for smaller, short-term needs. However, the advance is typically repaid automatically on your next available pay date.

Find out whether Dave could be the right fit for you.

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Quick Take

• If you need some cash before your next paycheck, the Dave app may provide a short –term advance.

• You won’t need to go through a hard credit check.

• Users can qualify for advances up to $500, although most people are approved for amounts between $25 and $100.

• If you’re comparing apps like Dave, it’s helpful to understand what a cash advance is and how these services differ from loans and other borrowing options.

What Is the Dave App?

The Dave App launched in 2017 and now has about 12.9 million members. The app is designed to help freelancers, delivery drivers and hourly workers manage short-term cash needs.

How Dave Works

Here’s a look at some of the key features of Dave:

Advance Amount

With Dave, you can request a cash advance of up to $500.

Funding Speed

How fast you get your funds depends on where you’re sending them to.

• Dave checking account: The funding speed is instant.

• External debit card: Funds typically arrive within one hour. Faster delivery is available for an optional fee of 1.5% of the transfer amount.

• External bank account: Funds will arrive in one to three business days.

Repayment

Dave doesn’t offer a lot of flexibility with the repayment terms. The full amount of advancement is withdrawn on the settlement date, which is typically your next pay date.

Credit Check

Dave doesn’t perform a hard credit check.

Costs and Fees of the Dave App 

• Membership fee: A monthly fee of up to $5 may apply and gives users access to additional features within the app.

• Express fee: If you need an instant advance to an external debit card, you may be charged 1.5% of the transfer amount.

• Optional tip: Dave encourages users to leave an optional tip to keep their service going or to help feed those who are in need.

Pros and Cons of the Dave App

Like most cash advance apps, Dave comes with advantages as well as trade-offs.

Dave Eligibility Requirements

To use the Dave App and qualify for a cash advance, you’ll need to meet the following requirements.

• You must be 18 years old and a U.S. citizen or permanent resident.

• You must have a Social Security number.

• You must have a valid email.

• If you choose to link your bank account, it must be active for at least 60 days.

• You bank account balance must be positive, and you must have three recurring direct deposits.

How To Sign Up and Get an Advance With Dave

It’s easy to sign up and get an advance with Dave. Here’s what you need to do:

1. Download the Dave app.

2. Sign up for Dave’s ExtraCash account.

3. Follow the prompts to request the advance.

4. Select express delivery or add an optional tip if you choose.

5. The advance is automatically repaid when your next paycheck arrives.

Dave vs. Other Cash Advance Apps

To see whether Dave is the right fit, it helps to compare it with other cash advance apps.

Brigit

Brigit charges a monthly fee of up to $15.99, and the available cash advance amount varies by user — some qualify for up to $500, while others receive between $25 and $100. Dave has a lower monthly fee and may offer higher advance amounts. However, Brigit also includes budgeting and credit-building tools that Dave does not provide.

Instacash

Instacash® from MoneyLion gives eligible customers access to cash advances of up to $500 with no credit check or interest. While Dave focuses primarily on providing simple cash advances, MoneyLion offers a broader financial platform with additional tools like investment portfolio management accounts.

EarnIn

EarnIn determines cash advance amounts based on the wages you’ve earned during a pay period, with advances typically available up to $100 per pay period. Unlike Dave, EarnIn does not charge a monthly membership fee, though the app encourages users to leave optional tips.

Who Dave Is Best For

Dave may be a good fit for people in the following situations:

• Freelancers and gig workers

• Those who need a small amount of cash — less than $500

• People who don’t have great credit

• Anyone who wants to avoid predatory lending

Final Take

The Dave App is a good fit for gig and hourly workers who need some cash between paychecks. If you’re exploring where you can get a cash advance, Dave is one option that offers quick access to smaller amounts without interest. You can receive a cash advance without a hard credit check, and there is no requirement to pay interest. Just keep in mind, Dave isn’t flexible with repayment deadlines, and they will automatically withdraw funds once your next paycheck hits.

Dave FAQs

Still curious about how Dave works? These FAQs cover common questions about fees, advances and eligibility.

Is Dave legitimate?

David is a legitimate financial tech company and they partner with banks that are FDIC-insured.  

Does Dave check your credit?

Dave doesn’t perform a traditional credit check. It looks to the balance in your checking account to assess eligibility.  

How much can you borrow with Dave?

You can request a cash advance of up to $500.

Is Dave really free?

Dave may charge a monthly membership fee as well as a service fee for faster delivery of cash advances.  

What happens if you miss repayment?

Dave will automatically withdraw the repayment amount plus fees once your deposit hits your account. If there are no funds in your account, you may face bank overdraft charges and Dave may not advance additional funds to you.

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