Dave Banking App Review
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- Fee
- From $0 per month
- APY
- 4.00%
- Minimum deposit to open
- $0
Our verdict
High-yield checking, budgeting and ExtraCash - but the FTC isn't happy.
Dave is a banking app that provides deposit accounts, budgeting, cash advances and much more. The Dave Checking Account offers early direct deposit, up to 4% APY, rewards, savings round-ups and more. There's a Goals account for savings, the ExtraCash account for when you might need extra cash and a side hustle job board. However, Dave is a digital-only banking option, and you'll need the paid membership to access ExtraCash, which is up to $5 per month. On top of that, Dave is in hot water with regulators.
Best for: Those who prefer online banking with earning opportunities.
Pros
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$0 monthly fee for basics
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High 4% APY
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Savings round-ups and budgeting features
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Side hustle board and cash advance options
Cons
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No physical branches
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No joint accounts
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Doesn't accept wire transfers
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Paid membership required for some features
MUST READ: FTC taking action against Dave
The Federal Trade Commission (FTC) has taken action against Dave for charging undisclosed “tips” for its ExtraCash account and other issues. The FTC has issued a complaint for permanent injunction, monetary judgment and other consumer relief. The fintech is said to be violating the FTC Act and the Restore Online Shoppers’ Confidence Act, as reported by the agency in November 2024.
Dave used to clearly advertise its membership fee to its consumers — we’ve known about the fee because we’ve reviewed the app in the past. However, Dave was failing to list its membership fee which it debits directly from consumer accounts. That membership fee is now listed as “up to $5.”
Perhaps one of the most shocking findings was around Dave’s tipping program. Dave claimed it donated a percentage of all consumer tips for its ExtraCash account, stating “We also provide a meal for every % you tip.” However, it was found that Dave was donating just 10 cents for each percentage and it kept the rest. And reportedly, if you reduced the tip amount to $0, the app displayed a picture of a cartoon child with an empty plate.
Who is Dave best for?
Dave is a banking app. More specfically, it’s a fintech company with banking services provided by Evolve Bank & Trust, Member FDIC.
Dave has a Dave Checking account for spending, the optional ExtraCash account for extra funds, a Goals account for saving and more. The checking and savings accounts don’t require any monthly fees or opening deposits. But if you want access to ExtraCash and budgeting external accounts, you’ll need to sign up for the paid membership, which is listed as “up to $5” per month.
If you want to bank with a traditional bank that can offer things like joint accounts, certificates of deposit and financing, you’ll have to look elsewhere. Also, Dave uses Plaid to connect to external accounts, so if your external account isn’t compatible, it may not be a good fit if you want to budget your current accounts.
What we like about Dave
Dave was founded in 2016 and was originally focused on its ExtraCash account, previously known as a cash advance service. It now offers more products, including its checking and savings accounts.
Checking Account earns up to 4% APY and cashback
One of the best perks is the 4% APY you earn on your Dave Checking Account — with no requirements at all. The national average rate for interest checking is 0.07%(1), so Dave wipes the floor with that rate.
The Dave Checking Account has no monthly maintaince fees or opening deposit minimums, and offers early direct deposit. However, you must request to get your Dave debit card, as it won’t be sent out automatically upon opening. Dave uses the MoneyPass ATM network, giving you free access to over 40,000 ATMs nationwide.
Additionally, there’s a cashback program with limited-time cashback offers from select merchants. You can also earn rewards through a program called “Free Months,” which lets you earn credits to cover the Dave membership fee at qualifying merchants.
Goals account
The savings account is called Goals, which lets you set up individual savings goals with timelines to help you stay on track. You’ll earn 4% APY on each goal you create, which is much higher than the 0.42% national average for savings accounts. Opening a Goals account doesn’t require the paid membership plan and has no monthly fees or opening deposit requirements.
To start, you’ll create a Goal from your Dave app by inputting how much you want to save, what you’re saving for and the date you want it achieved. You’ll then be prompted to set up recurring transfers or deposits and use the savings roundup feature if you have the Dave Checking account, which sends rounded-up amounts from purchases. And like most savings accounts, you can withdraw from a Goals account up to six times per month.
ExtraCash account
Dave’s original flagship product, the ExtraCash account is designed for times when you might need a little extra cash. You’ll need to join Dave’s paid membership plan to apply for an ExtraCash account.
ExtraCash could offer up to $500. If you qualify, the funds are sent to your Dave Checking account. There are no interest charges, late fees or credit check, and tipping is optional. You’ll have a “settlement” date, which the day you agree to pay the ExtraCash account back.
Side hustle board to find quick cash
A unique feature we haven’t seen anywhere else: Dave has a Side Hustle board where you could find quick jobs for quick cash. It features anything from seasonal and temp positions, work-from-home opportunities and more. There’s also Survey, which is a service that pays you for completing questionnaires, up to $5 per survey.
Where it falls short
Dave falls short in the same way other banking apps do: it lacks physical branches. But if you’re switching to Dave because you’d rather not go to a branch, then this won’t be too big of a deal for you, and Dave does have a customer phone line.
As an online fintech, Dave lacks many of the typical products you’d find with a full-fledged bank. You can’t get personal loans, credit cards or CDs. Also, Dave doesn’t support joint accounts, and it doesn’t support incoming or outgoing wire transfers. And while it supports cash deposits at MoneyPass locations, you’ll pay $4.95.
On top of all that, Dave is having issues with regulators. It’s under fire for not disclosing its membership fee, and for issues around its ExtraCash account and its tip program.
Dave’s fees and access
| Type of fee | Fee details |
|---|---|
Monthly service |
|
Opening deposit | $0 |
ATMs |
|
Debit card fees |
|
Overdraft or nonsufficient funds | $0 |
Wire transfers | Doesn’t support wire transfers |
Other fees |
|
Compare Dave to other account options
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What is the Finder Score?
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
Customer reviews and ratings
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.13 out of 5 stars, based on 394 customer reviews |
| App Store Score | 4.8 out of 5 stars, based on 718 customer reviews |
| Google Play Score | 4.4 out of 5 stars, based on 545,000 customer reviews |
| Customer reviews verified as of | 25 March 2025 |
Dave doesn’t have a Trustpilot profile at the time of writing, but it does have a Better Business Bureau (BBB) profile. Dave holds an A+ with the BBB, but there are also over 1,200 complaints filed in the last three years.
The majority of the negative reviews and complaints have to do with the ExtraCash account. Some users state they ended up accidentally tipping, while others report that funds were incorrectly sent out. Other reviews mention difficulties reaching customer support, accounts being closed without notice and getting double-charged payments for the ExtraCash account.
On Reddit, Dave’s reception is very mixed. Many customers state they’ve used Dave primarily for the ExtraCash feature with no issues, and others corroborate the struggle of speaking with a live person. On app stores, there are thousands of positive ratings and reviews, with most customers praising the ExtraCash account.
Checking account ratings
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.
Your reviews
Bethany Finder
Banking editor
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