Dave Inc.

Dave is a financial technology app that offers small cash advances, a checking account, and budgeting tools. It is not a bank. Dave's banking services are provided through Evolve Bank and Trust, which is FDIC-insured. The app is designed for consumers who need occasional short-term liquidity help between paychecks without turning to payday loans or overdraft fees.

Dave's cash advance product, called ExtraCash, provides small interest-free advances to qualifying members. There is no mandatory interest charge, but Dave does offer the option to leave an optional tip when you receive an advance. There is also a small fee to receive the advance instantly rather than waiting for the standard delivery time. These optional costs are real costs, and their effective rate relative to a small advance amount can be significant.

To access the full range of Dave features, a monthly membership fee applies. The checking account itself may be opened without a membership, but premium features including ExtraCash require a subscription. Factor the monthly cost into any assessment of what the cash advance feature actually costs you.

Dave also offers a credit-building debit card and budgeting tools within the app that can help you track spending and anticipate upcoming shortfalls.

Cash advance apps like Dave are not replacements for emergency savings, and repeated use to cover regular expenses points to a budget problem that the app alone cannot solve. If you find yourself advancing cash every pay cycle, consider working with a nonprofit credit counseling agency to review your overall financial picture.

Compare Dave against other cash advance apps including Brigit, EarnIn, and Empower before subscribing. Read current fee disclosures carefully as terms and subscription costs can change.