Dave App Review: Get Ahead On Your Finances
Written by
Rudri Patel
Edited by
Joe Evans
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Get ahead on your finances with the Dave App -- access up to $500 ExtraCash, budget smarter, and start earning extra income today.
The Dave App offers a check-free checking account and savings account, plus bonus features that help it stand out from other apps and Neobanks on the market. One of Dave's claims to fame is its ExtraCash cash advance, which lets you borrow up to $500 before your next paycheck.
Dave is an online-only banking platform that provides products and services to help you manage your money without the overdraft fees charged by traditional banks. One of Dave’s claims to fame is its ExtraCash cash advance, which lets you borrow up to $500 before your next paycheck.
GoBankingRates has ranked Dave among the Best Neobanks of 2025.
Dave App Checking Account
The Dave Spending Account is Dave’s primary product. It works in the same way as a standard checking account but without the checks — although Dave does offer a Send a Check option for a fee. You can transfer money from your Dave Spending Account using your card and the app.
- No minimum opening deposit
- Provides an APY of
- No minimum balance requirement
- Cash advance feature for eligible individuals
- Early direct deposit
Best For
Neobanks
Account Perks
Low Monthly Fees
Great APYs
No Minimum Deposit
A High APY Checking Account Option
Dave’s primary products, their high-yield checking account, early direct deposit, and cash advance features, offer customers serious value.
Fees
$1 monthly subscription fee
APY
Min Opening
$0
Pros
- FDIC insured
- Budgeting tools
- High-yield interest rateÂ
- No credit check required
Cons
- $1 monthly subscription fee is charged
- No physical branches
- Charge for out-of-network withdrawals
- No ability to create joint accountsÂ
- Limitations on withdrawals
Quick Take
The Dave App Spending Account offers early paycheck access, a competitive APY, and fee-free cash advances up to $500, making it a strong option for modern banking needs. However, its $1 monthly membership fee and lack of physical branches may be drawbacks for some users.
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Dave App Savings Accounts
Dave’s Goals Account is a high-interest savings account designed to help you save up for specific goals. Formerly a non-interest-bearing account, the Goals Account now offers APY. There’s no minimum deposit for a Goals Account, but each account has a maximum deposit of $20,000.
- No minimum deposit
- No monthly fees
- Competitive APY of
- Automated savings feature
- Limited cash deposit options
- Online only banks may be inconvenient for some
Best For
Neobanks
Account Perks
Low Monthly Fees
Great APYs
No Minimum Deposit
High-Interest Savings Account Options for Savers
For customers with lofty savings goals and a desire for a high APY option, Dave’s Savings Account is the way to go.
Fees
No monthly fees
APY
Min Opening
$0
Pros
- FDIC insured
- Integrated budgeting tools in the app
- User-friendly platformÂ
- Can open as many goals accounts as you want
Cons
- Limited cash deposit options
- Membership fee
- The maximum deposit amount is $25,000
Quick Take
Dave’s Savings Account allows individuals to save and track their progress goals. The APY is competitive, but the lack of physical branches and membership may be a point of resistance for some.
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Banking Experience
Dave is intended for individuals who have limited banking needs and are at risk of accumulating overdraft fees. The app received a4.8 on the App Store and a4.4 on Google Play, with users claiming it’s a transparent service that works as advertised. However, some users have reported frustration with Dave’s fees and inconsistent advance amounts.
Here’s a more detailed breakdown of Dave’s banking experience:
Fees
Although you won’t pay overdraft fees with Dave, you’ll pay other fees if you use popular app features. In addition to withdrawal and deposit fees, Dave charges a $1 monthly membership fee, up to $9.99 to transfer funds from your ExtraCash Account to your Dave Spending Account, and up to $13.99 to transfer to a linked bank account.
Keep in mind that these fees can add up and ultimately cost you more than a bank’s monthly maintenance fee or an occasional overdraft.
Tipping
The Dave app has a built-in tipping feature you can use to tip Dave and support Feed America when you take an advance. Tipping is optional and tips can be adjusted in the app, though 10% is the default tip. You can change the tip as needed when requesting an advance.
Customer Service
The Dave mobile app has a customer service chat feature available Monday through Saturday from 6 a.m. to 6 p.m. PST. Representatives are available by phone at 844-857-3283 Monday through Friday from 4 a.m. to 10 p.m. PST and Saturday and Sunday from 5 a.m. to 5 p.m. PST.
How Does Dave Compare?
Dave was ranked among GOBankingRates’ Best Neobanks of 2025. Here’s how it compares to three other popular neobanks:
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
$1 monthly subscription fee
None
$3 to $12 a month
APY
APY
APY
N/A
Up to
Min Opening
Min Opening
Min Opening
$0
$0
$0
SELECTED BANK
MOST COMPARABLE
MOST COMPARABLE
Fees
Fees
Fees
No monthly fees
None
$3 to $12 a month
APY
APY
APY
Up to
Up to
Min Opening
Min Opening
Min Opening
$0
$0
$0
Dave vs. Chime®
Chime® is similar to Dave, but it limits its SpotMe® coverage to up to $200 for eligible members2. However, it offers its Credit Builder feature: Chime reports the payments to credit bureaus to help users build credit. In addition, if you have a Chime Checking Account, you can also open a High-Yield Savings Account to earn interest.
Dave vs. Acorns
Alongside its spending and savings accounts, Acorns lets you invest your spare change in exchange-traded funds. The investment account includes an automated retirement account to help you save for the future. A personal account is more expensive, though — $3 per month compared to $1 for a Dave membership.
Dave vs. Varo Bank
Dave and Varo Bank are both digital platforms offering several financial services. Dave offers a savings account with a APY, while Varo Bank provides a high-yield savings account that earns up to . Dave requires a membership fee, while Varo Bank doesn’t have this requirement. Varo Bank may appeal to those who want a higher APY without the requirement of a membership fee.
Final Take    Â
Dave is an innovative neobank that offers flexible paycheck advances. If you are on a paycheck-to-paycheck budget and want an emergency cushion between paydays, the Dave app might be right for you. You can get up to $500 in advance of your paycheck, then automatically pay it back with no overdraft fees.
However, Dave might not be the best bank for you if you want fee-free banking or a high-yield account for your long-term savings. This neobank is ideal for emergency paycheck advances but falls short of other options for standard spending, saving and investing services.
Dave App FAQ
Confused about navigating traditional banking? Dave offers a mobile app aiming to simplify your finances with features like fee-free advances, budgeting tools, and high-yield savings. But before diving in, you might have some questions. Let's explore some frequently asked questions to see if Dave is the right fit for you.- Is Dave an actual bank?
- Dave is not a bank, but a mobile fintech platform that offers banking services in partnership with Evolve Bank & Trust.
- Is Dave banking safe?
- Yes. Dave deposits are held at Evolve Bank & Trust, a Member of the FDIC, which provides insurance coverage up to $250,000 per depositor. The app offers fraud monitoring and data encryption services.
- Can you really get $500 from Dave’s App?
- It is possible to qualify for $500 in cash advance, but the amount you receive depends on income history, spending patterns, and recurring deposits. You may receive less than $500 based on your history.
- How does extra cash with Dave work?
- The Dave app's ExtraCash feature provides eligible users with cash advances up to $500 to help cover expenses without needing a credit check or incurring interest. Dave will need to determine if you’re eligible. The amount will be up to $500. You will also agree to a repayment date in the future.
- What happens if I don’t pay Dave back?
- Dave will withdraw the amount from your linked checking account. Dave will initiate smaller amounts to settle the debt if the funds are insufficient.
Daria Uhlig, Emily Cahill and Quinlan Grim contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 20, 2024.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
*Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
SpotMe® on Debit is an optional, no-fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical Chime Visa® Debit Card or secured Chime Credit Builder Visa® Credit Card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.
On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.
Neobanks are fintech firms that offer apps, software and other technologies to streamline mobile and online banking. These fintechs generally specialize in particular financial products, such as checking and savings accounts. To determine rankings for the Best Neobanks of 2025, GOBankingRates analyzed the following factors: (1) monthly checking fee ratio (percent the minimum to avoid fee compared to the monthly fee itself); (2) minimum needed to earn APY; (3) savings APY; (4) products/services offered (credit cards and investment services); (5) the average mobile app rating between the Google Play (Android) and Apple stores; and (6) number of extra benefits and perks unique to neobanks. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (2) were weighed 0.5 times, and factors (3) and (6) were weighed 2 times. All products and offerings had to be available as of Nov. 1, 2024, to be considered. Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 20, 2024.
