Business Insider's personal finance team compared Dave to other fast funding personal loans and found it to be a standard offering. Dave is a mobile app that lets you access up to $500 as a cash advance through its Dave ExtraCash Account. You can also use the app to create bank accounts, discover more than 1,000 side hustles, and track your long-term financial goals.
Note: On November 5, 2024, the Federal Trade Commission sued Dave for "misleading marketing to deceive consumers about the amount of its cash advances, charging consumers undisclosed fees, and charging so-called 'tips' to consumers without their consent." Among other things, it alleges that the app offers the maximum $500 cash advance "only a tiny percent of the time." We've updated our editor's rating to reflect these concerns about borrower accessibility and company ethics.
Dave App Pros & Cons
Dave App Pros
- High cash advance: Few cash advance apps offer up to $500 like Dave. You can see how much you qualify for within a few minutes. If you don't qualify for the full $500, you can work on your banking history and check back another day. ExtraCash amounts may change from day to day.
- Competitive yields: Checking accounts and savings accounts with 4.00% are hard to find. You don't have to store your money in a long-term CD when you can receive a comparable rate with Dave. Your funds are also more accessible with a checking or savings account than with a CD, which could charge a penalty for early withdrawals.
- Budgeting features: You can stay on top of your income and expenses so you don't fall behind on bills. Dave anticipates when future bills will arrive and will let you know if your balance is low.
Dave App Cons
- Monthly membership: You must pay a $1 monthly membership fee to use Dave's features, including banking and cash advance transfers. Some cash advance apps don't have a monthly membership fee and let you use their features right away.
- No leeway for overdrawing your account: Some banks give you a $50 to $100 buffer if you overdraw your account before applying fees or declining transactions. However, Dave will reject any transactions that would cause you to have a negative balance for your Dave checking account.
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Compare Dave to Personal Loan Options
8.74% to 35.49% fixed (with all discounts)
$5,000 to $100,000
680
Pros
Cons
SoFi is a strong personal loan lender for those with high credit scores — you'll get perks like no fees required. The best personal loan for you depends on your credit score, which will determine what you qualify for and can lower your rate.
SoFi- Loan amounts range from $5,000 to $100,000
- Loan term lengths range from 2 to 7 years
- Usually receive your money in a few business days after your application is approved
- Loans are made by SoFi Lending Corp.
6.49% to 25.29% (with AutoPay discount, rates vary by loan purpose)
$5,000 to $100,000
660
Pros
Cons
LightStream offers some of the lowest rates on personal loans out there, provided you have a great credit score. The lender also has loans of up to $100,000 and can supply you with funding on the same day you apply and are approved.
LightStream Personal Loan- Loan amounts range from $5,000 to $100,000
- Loan term lengths range from 2 to 12 years
- Apply online and you'll receive a response shortly during business hours.
- Receive your funds as soon as the same day
- Loans are made by Truist Bank, member FDIC
6.99% to 35.99%
$2,000 to $50,000
600
Pros
Cons
- Loan amounts range from $2,000 to $35,000
- Loan term lengths range between 3 to 5 years
- You may get your money by the next business day after your loan is reviewed and approved
- Loans made by Best Egg's lending partners
- Unavailable if you live in Iowa, Vermont, West Virginia, the District of Columbia, or U.S. Territories
Dave App Overview
What is the Dave App?
Dave is a highly rated mobile banking app with a few features that offer more value than most cash-advance apps. For example, Dave's ExtraCash feature lets you borrow between $25 to $500 within just five minutes.
Additionally, Dave offers FDIC-insured checking accounts that allow you to start earning 4.00% APY with as little as $1 in your account. You should be aware that Dave does charge a membership fee. However, the app won't charge you late fees or minimum balance fees.
How Does Dave Work?
Dave looks at your banking history to determine how much you can borrow. You can use a Dave bank account or link an external bank account. Some people will qualify for up to a $500 cash advance right away, while others may have to build up to that number. Your approved cash advance amount is updated every day based on your banking activity.
Dave lets you avoid transfer fees if you can wait up to three business days for the cash advance. However, you can also opt for an Express Transfer. This fee is 1.5% of the transfer amount. You will save money by transferring the cash advance to a Dave checking account rather than an external bank account.
Dave is not a bank, but its accounts are FDIC-insured through its partnership with Evolve Bank and Trust, Member FDIC. The fintech company's customer support team is available by chat Monday through Saturday from 6 a.m. to 4 p.m. PT.
You can also call Dave at 1(844) 857-3283 and receive live agent support on weekdays from 5 a.m. to 9 p.m. PT. Live agents are also available on the phone on weekends from 5 a.m. to 5 p.m. PT. The customer service email for Dave customers is support@dave.com.
Dave App Features and Benefits
Dave lets its members tap into up to $500 cash advances without paying any interest or late fees if you can wait up to three business days for your cash advance.
- FDIC-insured bank accounts: You can set up a bank account with Dave that is insured by the FDIC for up to $250,000. The Dave Spending Account has a competitive 4.00% APY, which is higher than most CDs.
- Side hustles: The Dave app lists more than 1,000 side hustles, giving you many opportunities to earn extra cash. You can earn up to $37 an hour with the side hustles listed on Dave.
- Option for no-fee cash advance: Standard external bank account transfers do not result in any transfer fees when you request a cash advance. It can take up to three business days to receive the funds.
- ATM network: Dave has a network of more than 40,000 ATMs where you can make fee-free transactions.
Cash Advances with the Dave App
How to Get a Cash Advance with Dave
You will have to download the Dave app, connect your bank account, and see how much you can take out with a cash advance. The amount is generally up to $500, but your exact amount may vary based on your banking history. Then, you will have to open an ExtraCash account and pay a $1 monthly membership fee fee to use the app's features.
Dave Payday Loan Limits and Terms
You can take out a cash advance of up to $500 with the Dave app and then pay it back on your next payday. If Dave cannot determine your next payday, you will have to repay the cash advance on the nearest Friday to when you took the advance.
Dave App Budgeting Tools
How Dave Helps You Avoid Overdraft Fees
Dave does not charge overdraft fees. The fintech company will send you notifications when your balance is running low based on your income and expenses. Dave's Budget feature also anticipates upcoming bills when informing you about a potential overdraft.
Dave cancels any transactions that would result in a negative balance for your Dave checking account. You will have to replenish your Dave checking account before you can use it to make purchases. However, you can end up with a negative balance for an external checking account if you use it for your Dave transactions.
Track Spending and Manage Bills
Like other budgeting apps, Dave makes it easy to monitor your income and expenses so you can live below your means. The mobile app also estimates upcoming bills to minimize the likelihood of a surprise.
You can set recurring expenses in the Budget feature so Dave knows how much you spend. To get started with the Budget feature, select "Start a budget" in the Dave app.
How to Apply and Set Up the Dave App
Creating a Dave App Account
You can download the Dave app from the App Store or Google Play to create an account. You can also join Dave through the fintech company's website. It's free to get started, but you must become a member to use the app's features.
Linking Your Bank Account
You can link an external bank account to the Dave app by going into your settings and tapping "Linked bank and cards." This option will show the bank accounts linked to your Dave account. You can click "Change" bank to link your external bank account. Dave will provide some brief instructions and request that you provide some information during the process.
Using Dave App Features
You must become a Dave member to use any of the mobile app's features, including its bank accounts. The membership renews every month, and members continue to pay the monthly fee unless they change their memberships or delete their Dave accounts.
Dave App Interest Rates and Fees
Dave Membership Fee
The app has up to a $1 monthly membership fee. Other costs, such as Express Transfer and out-of-network ATM fees, are avoidable.
Does Dave Charge Interest?
Dave does not charge interest or late fees if you can't pay the full balance on time. In that case, Dave runs partial settlements (payments) until the amount is repaid. You cannot request another cash advance while paying off your current one.
Are There Any Hidden Fees?
Dave doesn't have any minimum balance requirements or overdraft fees. You will have to pay an Express Transfer fee if you want your cash advance on the same day. Dave also charges out-of-network ATM fees.
Dave App Customer Experience
The app has a 4.8 rating among over 720,000 App Store reviewers. It's also done well on Google Play, notching 547,000 reviews with an average of 4.4 stars.
Dave became the victim of a data breach in 2020 that leaked information about 3 million individuals. Since then, Dave has doubled down on its cybersecurity and hasn't had any major scandals.
Is Dave Trustworthy?
Dave is a BBB-accredited fintech company with an A+ rating. Despite the high mark, Dave only has a 1.13 rating among 395 customer reviews posted on the Better Business Bureau.
The fintech firm is also the subject of a proposed class action lawsuit that claims the company charges excessive fees on cash advances that enable "detrimental cycles of debt." Dave has also been suspected of violating the Military Lending Act by overcharging veterans.
Dave App Alternatives
Dave vs. MoneyLion Instacash
Like Dave, MoneyLion Instacash lets you access up to $500 as a cash advance without paying any interest or fees. There is an optional fee for people who want to receive the cash advance within a few minutes instead of one to five business days.
Becoming a RoarMoney member will increase your cash advance limit to up to $1,000, so it's a better option than Dave if you need more money. Upgrading your account costs $1 a month and includes other perks, like a debit card and access to crypto investing.
Read our MoneyLion Instacash Review.
Dave vs. Empower
Empower lets you tap into a cash advance of up to $300 without any interest or late fees. Although Dave has higher cash advances, Empower also offers a credit line that starts at $200 to $400 with room to increase it over time. You don't need good credit to get the credit line.
The credit line and cash advance are enough to top Dave's limit. Even better, Empower reports your payment history to the major credit bureaus for its credit lines. Empower gives you the opportunity to build credit, while Dave does not. However, Empower comes with an $8 monthly fee.
Dave vs. Klover
Klover lets you take out a cash advance of up to $200, and you won't have to worry about interest or late fees. The Klover app offers several budgeting features to help you stay on top of your personal finances.
You will have to connect an external bank account to the Klover app to receive your cash advance. Klover also has a points system that lets you earn a higher cash advance or participate in daily sweepstakes. Users earn points for performing various activities, such as taking surveys and watching ads.
Why You Should Trust Us: How We Rated The Dave App
We rate all personal loan products in our reviews and guides on a 1 to 5 scale. To review Dave, we examined its features, limits, and benefits and compared them to other cash-advance apps on the market. The overall rating is a weighted average that considers seven different categories. Some of these categories are judged more heavily than others. The categories are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Dave stands out for offering a higher cash advance amount than some other apps, and it doesn't require a credit check. However, it charges a high fee if you need your cash advance quickly, so it scored lower in the fees category.
To see all the categories that go into our personal loan ratings, read our personal loan review methodology.
Dave ExtraCash Account FAQs
How quickly can I get a cash advance from Dave?
You can receive a Dave cash advance within an hour if you use an Express Transfer for a fee. If you don't want to pay the extra fee for an Express Transfer, it can take up to three business days to receive the cash advance.
How does the Dave App help with budgeting?
Dave's budget feature helps members track their income and expenses. It also predicts future bills, so there aren't as many surprises. Dave will notify you if your balance is getting low so you can avoid declined transactions.
Can you really get money from the Dave app?
Yes, with the Dave app's ExtraCash cash advance feature, eligible users can borrow up to $500.
How much will the Dave app give me?
The Dave app's ExtraCash feature has a maximum cash advance limit of up to $500. Eligibility is determined on a daily basis and is determined by your financial activity history. Sources claim that most borrowers qualify for around $160.
What happens if you don't pay back Dave?
If you're not able to pay back what you owe, you should contact Dave's Member Success team for assistance. Dave doesn't charge late fees, but the app will attempt to transfer a partial amount from your account and will try again until repayment is complete.
Fixed rates from 8.74% to 35.49% APR. APR reflects the 0.25% autopay discount and a 0.25% direct deposit discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or , Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 08/08/25 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors. Loan amounts range from $5,000— $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 9.99% of your loan amount for Cross River Bank originated loans which will be deducted from any loan proceeds you receive and for SoFi Bank originated loans have an origination fee of 0%-7%, will be deducted from any loan proceeds you receive.
The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.
Direct Deposit Discount: To be eligible to receive an additional (0.25%) interest rate reduction on your Personal Loan (your "Loan"), you must set up Direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A., or enroll in SoFi Plus by paying the SoFi Plus Subscription Fee, all within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled Direct Deposit to an eligible Direct Deposit Account in accordance with SoFi's reasonable procedures and requirements to be determined at SoFi's sole discretion, or during periods in which SoFi successfully receives payment of the SoFi Plus Subscription Fee. This discount will be lost during periods in which SoFi determines you have turned off Direct Deposit to your Checking and Savings account or in which you have not paid for the SoFi Plus Subscription Fee. You are not required to enroll in Direct Deposit or to pay the SoFi Plus Subscription Fee to receive a Loan.
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2024 was around $33K. Information current as of 11/03/25. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.
