Dave 2021 App Review: Paycheck Advance Tool


GOBanking Rate Score

Quick setting: Dave is an app designed to make your financial life safer and reduce potential bank charges. You can get payday advances, improve your credit, and manage your regular checking account all through the Dave app.
  • Cost
  • Unique utility
  • Financial planning options
  • Application design

How did we calculate this?


  • Get up to $ 200 when you need it most
  • Ditch overdraft fees and get a free payday advance
  • The app sends notifications to alert the low balance and avoid a potential overdraft

The inconvenients

  • This may not be enough to cover unforeseen emergency costs
  • You should always keep track of additional bills to make sure that your advance from Dave is sufficient to cover them.
  • You must receive direct deposits to your Dave account or link a bank account to get approval for an advance

About the Dave app

Unexpected bills and misaligned paycheck deposits happen to the best of us. Once upon a time you may have faced a heavy overdraft fees or a bounced check, but fintech apps like Dave allow you to get a payday advance at no extra cost and avoid overdraft fees.

As a cash advance, you are supposed to pay it back. Although you don’t pay anything to access the money, you can’t keep it indefinitely.

Dave keeps track of your spending habits and predicts what your balance is likely to be before payday. It also sends you an alert notification if you risk an overdraft on your account.


The Dave app has several banking features that you can use to improve your overall financial stability at the same time. The popularity of these features is evident in Dave’s popularity – the app has over 10 million users.

Payday advance

The paycheck advance option is the most attractive feature of the Dave app, giving users up to $ 200 free to cover an income gap while waiting for their paycheck. You can qualify for $ 200 if you get your direct deposits directly to your Dave account, or $ 100 when you link an external bank account.

Balance warnings

To avoid needing a payday advance, balance warnings are also built into the Dave app. These help users guess how long their remaining funds will last so they don’t overspend until payday.

LevelCredit partnership

It may be difficult to build your credit if you are limited to debit cards. That’s why Dave works with LevelCredit to report your rent and utility payments to the credit bureaus. This can help improve your credit score.

Tip instead of fees

You never have to pay a single fee to use the Dave app paycheck advance tool. Instead, tip options are built into the app so users can pay what they feel the services are worth.

The fine print of using the Dave app

Dave doesn’t just hand out crispy Benjamins, however. As a cash advance on a scheduled paycheck, your account will be debited for the amount once you reach the set repayment date. This date is usually your next salary. Alternatively, you can pay off the costs sooner if you have the funds.

Tip setting is possible in the app, but users should be aware that 10% is the default tip. You can change the tip as needed when requesting an advance.

Dave app costs

You can use the Dave app for completely free advancements, but you’ll need to be strategic. You can choose not to tip to receive your advance completely free. Plan ahead and transfer the money to your account a few days before you need it to avoid instant transfer fees.

It takes up to three business days to receive your free payday advance. If you need it faster, there is a charge.

A subscription of $ 1 per month is associated with your Dave account. However, you can forgo it for a few months when you use the Dave Debit Card to buy things from partner companies like GNC.

Good to know

Doing the math on the Dave app is important. If you qualify for credit cards, you can find better coverage between bill due dates and payday by using your cards even if you end up paying interest. Credit card interest rates average around 16% per year, but APR calculation Using the tip feature on Dave shows that it could cost up to over 300% APR, which is no different from payday loans.

Who should use the Dave app?

Under the right circumstances, the Dave app can be the difference between getting slapped with a fee and bridging the days between due bills and clearing your paycheck. But for any major financial problem, Dave will hardly act as a band-aid.

If you’ve miscalculated your payment schedules this month and need $ 200 or less to fill a multi-day gap between your bill due date and your payroll arrival, Dave can help. ‘make sure you have money in your pocket. Otherwise, turn to sizeable budget and credit options.

Our in-house research team and on-site financial experts work together to create accurate, unbiased and up-to-date content. We check every statistic, quote and fact using reliable primary resources to make sure the information we provide is correct. You can read more about GOBankingRates’ processes and standards in our editorial policy.

About the Author

Emily Cahill is a writer with over three years of experience creating digital content. Previously she worked as a freelance editor while attending Trinity College for English / Rhetoric.
She specializes in SEO-driven content that highlights the unique properties of a product or service while making them digitally ‘findable’, particularly for the finance, geek culture and business niches. lifestyle.


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