Summary
Dave is a mobile banking app that provides cash advances, a checking account with a debit card, early direct deposit, and a high-yield savings account. It also helps users find side hustles and offers budgeting tools.
Features6/12
See allMust Have
2 of 5
Prepaid Debit Card (Cash App Card)
Early Direct Deposit
Instant P2P Transfers
Commission-Free Stock Trading
Bitcoin Trading
Other
4 of 7
Fraud Monitoring & Security
High-Yield Savings
Round-Up Savings
ATM Access & Fee Reimbursement
Pay Over Time (Afterpay)
Instant Discounts & Offers
Customizable Card Designs
PricingFreemium
See allFree Features
- Dave Checking account
- Early Direct Deposit (up to 2 days early)
- Goals account with 4.00% APY
- Round Up savings
- Digital Dave Debit Mastercard®
- No minimum balance fees
- No account closing fees
- Access to 40K+ fee-free MoneyPass® ATMs
- FDIC-insured accounts (up to $250K)
- Budgeting features
- Ability to add cash via direct deposit, ACH, Apple Pay/Google Pay, cash deposit at retailers, check cashing
- Out-of-network ATM fees may apply
- Retail service fee (up to $4.95) for cash reloads
- Fees apply for approved Money in Minutes check cashing transactions
ExtraCash™ & Membership Services
- ExtraCash™ advances (up to $500, no interest, no credit check, no late fees)
- Income Opportunity Services
- Financial Management Services
- All features of the Free Tier
- Up to $5 monthly membership fee
- Optional 1.5% fee for external debit card transfers of ExtraCash™
- ExtraCash™ amounts range from $25-$500, not all members qualify for ExtraCash and few qualify for $500
- ExtraCash™ is repayable on demand
- Multiple overdrafts may be required for ExtraCash™
- Overdraft fee equal to the greater of $5 or 5% for ExtraCash™
Rationale
Dave offers a mobile banking app with a debit card, early direct deposit, and savings features. It also emphasizes security and ATM access. However, it does not explicitly offer instant P2P transfers in the same vein as Cash App, nor does it provide stock or bitcoin trading. The 'ExtraCash' feature is a cash advance, not a P2P transfer.
