Dave Review (2026)
Dave suits people who need a small, short-term cash buffer before payday and accept a fee for it. The one thing to know: ExtraCash is an overdraft with a fee, not a free advance. You can get $25 to $500 (few qualify for $500) for the greater of $5 or 5% of the amount, on top of a membership of up to $5 a month, and Dave pays 0% on its checking and savings accounts.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against Dave's own account agreements, fee pages, FDIC and regulator records (13 sources, listed below). We re-check prices about once a month. We do not earn a commission from Dave.
Dave at a glance
| Savings rate | None: Dave Goals pays 0% APY (maximum balance $25,000) [4] |
|---|---|
| Checking interest | None: Dave Checking pays 0% APY [3] |
| Membership | Up to $5 a month, renews monthly until you cancel in the app; needed to use Dave Checking and ExtraCash [7] |
| ExtraCash (overdraft) | $25 to $500 on a separate ExtraCash account, few qualify for $500; overdraft fee is the greater of $5 or 5% of the amount; no interest, no credit check, no late fees; repayable on demand [1] |
| ExtraCash transfer | Free to Dave Checking (seconds) or an external bank account (up to 3 business days); 1.5% to an external debit card (within an hour) [6] |
| Checking overdraft | Dave Checking cannot be overdrawn; no overdraft or insufficient funds fees on it [3] |
| ATMs | 40,000+ fee-free MoneyPass ATMs; $3.00 per out-of-network withdrawal plus the operator's fee [8] |
| Cash deposits | Free at CVS and Walgreens; retail service fee up to $4.95 elsewhere; $20 to $500 per deposit [8] |
| Early direct deposit | Up to 2 days early into Dave Checking [9] |
| Foreign transaction fee | 3% of the transaction amount [3] |
| Instant withdrawal and inactivity | 1.5% per instant withdrawal; $5 a month after 12 months with no deposits or withdrawals [3] |
| Who holds deposits | Coastal Community Bank for new members since late 2025; older accounts at Evolve Bank & Trust are being moved; pass-through FDIC coverage with conditions (details below) [11] |
| Company | Dave Inc., Los Angeles; public on Nasdaq (DAVE); over 21 million sign-ups and over 15 million product users since inception (10-Q, June 30, 2026) [11] |
| Platforms | iOS and Android [1] |
Who holds your money
Dave is not a bank. Its accounts are provided by the banks below, which hold the money:
- Coastal Community Bank, partner bank for new members (FDIC certificate 34403)
- Evolve Bank & Trust, partner bank for older accounts being moved (FDIC certificate 1299)
Dave says: Dave is not a bank. Banking services provided by Coastal Community Bank, Member FDIC, or another partner bank.
The FDIC says funds you send to a nonbank company are not eligible for FDIC insurance until the company deposits them
in an insured bank and other conditions are met, and that FDIC deposit insurance does not protect against the insolvency or bankruptcy of a nonbank company
(FDIC, Banking With Third-Party Apps). When the middleman Synapse failed in 2024, the FDIC said over 100,000 customers lost access to their accounts
(FDIC, September 17, 2024).
What Dave costs
| Plan | Paying monthly, 1 year | Annual plan, 1 year | 3 years (cheapest way) |
|---|---|---|---|
| Dave membershipup to $5 a month; needed for ExtraCash and Checking | $60 | - | $180 |
Our arithmetic from the listed prices, before sales tax, assuming today's prices hold; subscriptions can renew at a different rate. Dave says membership costs "up to $5 per month", so $60 a year is the most at that rate. Its 10-Q says the fee for new members rose from $1 to $3 in June 2025; the price for your account is shown in the app. ExtraCash overdraft fees come on top.
How Dave works
Dave is a financial technology company, not a bank. Dave says its banking services are provided by Coastal Community Bank, Member FDIC, "or another partner bank." Its 10-Q explains that all new members have been opened at Coastal since the fourth quarter of 2025, and that existing members at Evolve Bank & Trust are expected to be moved by the end of 2026. Coverage is pass-through, and Dave says conditions must be met. The section below on who holds your money lists both banks with their FDIC certificates.
ExtraCash is the main product. It sits in a separate ExtraCash account that you can draw negative, and Dave calls it an overdraft. Amounts run from $25 to $500 with no credit check, and Dave says few members qualify for $500. Since February 2025 each ExtraCash carries a mandatory overdraft fee of the greater of $5 or 5% of the amount, replacing the optional tips and express fees Dave used before. Dave settles the balance automatically from your linked account on your estimated next payday. Its 10-Q says the cap on the fee was removed for some member groups in the second quarter of 2026.
A hypothetical member takes $200 of ExtraCash and sends it to an outside debit card. The overdraft fee is the greater of $5 or $200 x 5% = $10, so $10. The 1.5% card transfer adds about $200 x 1.5% = $3, for $13, plus that month's membership of up to $5. A $50 ExtraCash costs the $5 minimum, because 5% would be only $2.50, so the fee is 10% of the amount. Sending the money to Dave Checking or waiting up to 3 business days for a bank transfer avoids the 1.5%.
The rest of the account is a basic spending account. Dave Checking pays 0% APY, cannot be overdrawn, and gets paychecks up to 2 days early. Dave Goals is a savings bucket that also pays 0% APY. Cash goes in free at CVS and Walgreens and for up to $4.95 elsewhere. If you want interest on your savings, see our high-yield savings comparison, and compare overdraft products in our banking app comparison.
Pros
- ExtraCash from $25 to $500 with no credit check, no interest and no late fees
- Free ExtraCash transfers to Dave Checking or, more slowly, to an outside bank
- Paychecks up to 2 days early
- Free cash deposits at CVS and Walgreens
- 40,000+ fee-free MoneyPass ATMs
Cons
- Every ExtraCash costs at least $5, and 5% above $100
- Membership of up to $5 a month is required
- 0% APY on checking and savings
- $3.00 per out-of-network ATM withdrawal and 3% on foreign transactions
- FTC and DOJ lawsuit over ExtraCash marketing and membership still pending
Who Dave fits, and who should skip it
A good fit if
- You need $25 to a few hundred dollars before payday now and then, and a fee of $5 or 5% is cheaper for you than the alternatives you have.
- You want an overdraft limit that does not depend on a credit check.
- You withdraw cash at MoneyPass ATMs or deposit cash at CVS or Walgreens.
Look elsewhere if
- You want no-fee overdraft coverage: Chime SpotMe on Debit has no fee.
- You want interest on savings: Dave pays 0%; Varo pays up to 3.75% APY on the first $5,000 with $800+ in direct deposits.
- You want a free earned wage advance up to $1,000: Current Paycheck Advance is free if you wait up to 3 days.
- You do not want a monthly fee: OnePay charges no monthly fee.
Limitations to know
- Dave says not all members qualify for ExtraCash and few qualify for $500. ExtraCash is repayable on demand. [1]
- ExtraCash is an overdraft feature of a deposit account with a maximum balance of $500, not a loan; the fee is mandatory. [5]
- Instant ExtraCash to an external debit card costs 1.5%; free transfers to an outside bank take up to 3 business days. [6]
- An inactivity fee of $5 a month applies after 12 months with no deposits or withdrawals. [3]
- Dave Flex, a credit card with pay-in-four installments issued by Coastal, has been in a limited test since April 2026; we did not review it. [11]
Dave compared with alternatives
| App | Savings APY | Monthly fee | Early direct deposit | Deposits held by |
|---|---|---|---|---|
| Dave | None (0% on Checking and Goals) | Up to $5/mo membership | Yes | Coastal Community Bank; Evolve Bank & Trust |
| Chime | 1.00% APY standard; 3.00% Chime Plus ($200+ direct deposit); 4.00% Chime Prime ($3,000+ in 34 days) | $0 | Yes | The Bancorp Bank, N.A.; Stride Bank, N.A. |
| Current | No APY: Savings Pods earn a "Boost Bonus" up to 4.00% on $6,000 with a $200+ payroll deposit | $0 (optional paid tier in the app) | Yes | Choice Financial Group; Cross River Bank |
| Varo | 3.75% APY on the first $5,000 with $800+ monthly direct deposit and positive balances; 1.00% otherwise | $0 | Yes | Varo is the bank |
| OnePay | 3.35% APY on Savings, no conditions or cap | $0 | Yes | Lead Bank; Coastal Community Bank |
- Pick Chime if you want overdraft coverage on debit purchases with no fee and an APY on savings.
- Pick Current if you want earned wage access of up to $1,000 that is free if you wait up to 3 days.
- Pick Varo if you want a chartered bank with interest on savings and flat-fee advances.
- Pick OnePay if you want no monthly fee and 3.35% APY on savings.
Security and privacy
- Dave says: "Dave is not a bank. Banking services provided by Coastal Community Bank, Member FDIC, or another partner bank." Deposits are insured on a pass-through basis up to $250,000 if conditions are met. The FDIC's own warning about non-bank apps is in the section on who holds your money. [2]
- On November 5, 2024 the FTC sued Dave Inc. over ExtraCash marketing and fees and its membership, under the FTC Act and ROSCA. On December 30, 2024 the DOJ filed an amended complaint seeking civil penalties and naming CEO Jason Wilk. A motion to dismiss was denied on September 12, 2025, and the case was still pending in Dave's 10-Q filed August 5, 2026. No amount has been set. [11]
- On June 11, 2024 the Federal Reserve issued a cease and desist order against Evolve Bancorp and Evolve Bank & Trust, Dave's older partner bank, over anti-money-laundering, risk management and consumer compliance weaknesses, including oversight of fintech partners. The order is against the bank, not Dave, and carried no penalty. [12]
- We found no Federal Reserve action against Coastal Community Bank from 2020 to 2026. [13]
- You can freeze or replace your Dave debit card and change its PIN in the app; digital and physical cards have separate numbers. Dave's security page does not say whether it offers two-factor sign-in, and we did not review its privacy policy. [10]
Recent changes
| Date | What changed |
|---|---|
| Aug 5, 2026 | Dave's 10-Q reports that in the second quarter of 2026 the maximum ExtraCash fee cap was removed for some member groups, and that Coastal now originates and holds ExtraCash receivables under an amended agreement (June 1, 2026). [11] |
| Oct 2025 | From the fourth quarter of 2025 all new members are opened at Coastal Community Bank; existing members are moving through the end of 2026. [11] |
| Jun 2025 | Membership fee for new members raised from $1 to $3 a month (the site now says up to $5). [11] |
| Feb 2025 | Optional tips and express fees on ExtraCash replaced by a mandatory overdraft fee of 5%, at least $5. [11] |
Dave FAQ
Is Dave a bank?
No. Dave Inc. is a financial technology company listed on Nasdaq. Its accounts are held at Coastal Community Bank, Member FDIC, or another partner bank; older accounts at Evolve Bank & Trust are being moved to Coastal by the end of 2026, Dave expects.
Is Dave safe and FDIC insured?
Dave itself is not FDIC-insured. Deposits are insured through its partner bank on a pass-through basis up to $250,000 if conditions are met, and the FDIC says that insurance does not protect you if a non-bank company fails. The FTC and DOJ have a lawsuit against Dave over ExtraCash and membership that was still pending in August 2026.
What does Dave pay on savings?
Nothing. Dave Checking and Dave Goals both pay 0% APY. For interest, see our <a href="/high-yield-savings/">high-yield savings comparison</a>.
Does Dave charge fees?
Yes. Membership is up to $5 a month. Each ExtraCash carries an overdraft fee of the greater of $5 or 5%, and sending it instantly to an outside debit card adds 1.5%. Out-of-network ATMs cost $3.00, foreign transactions 3%, cash deposits outside CVS and Walgreens up to $4.95, and an inactive account $5 a month after 12 months.
Dave vs Chime?
Both hold money at partner banks. Dave's ExtraCash goes up to $500 for a fee of at least $5 and requires a membership of up to $5 a month. <a href="/neobanks/chime/">Chime</a> has no monthly fee, its SpotMe overdraft has no fee and starts at $20, and its savings pays an APY tied to direct deposits.
How does Dave ExtraCash work?
ExtraCash lets you draw a separate ExtraCash account negative by $25 to $500, depending on what Dave approves. Each one carries an overdraft fee of the greater of $5 or 5%, with no interest, credit check or late fees. You can move it free to Dave Checking, or to an outside debit card for 1.5%. Dave settles it from your linked account on your estimated next payday, and it is repayable on demand.
How we researched this review
We did not get paid or receive a free account for this page. We read Dave's own pricing page, help center, security and privacy pages and app-store listing on October 19, 2026, quoted each fact from those pages, and link every one below. We did not run a long-term hands-on test, so we do not score the app; where a point rests on what the company says rather than something we can check, we attribute it to Dave. Cost figures are our own arithmetic. We re-check prices and plans about once a month and log changes in the table above.
Sources
- Dave, Home page and disclosures, checked October 19, 2026.
- Dave, Terms and agreements, checked October 19, 2026.
- Dave, Checking Account Agreement (Coastal Community Bank, updated July 1, 2026), checked October 19, 2026.
- Dave, Goals Account Agreement (Coastal Community Bank, updated July 1, 2026), checked October 19, 2026.
- Dave, ExtraCash Account Agreement (Coastal Community Bank, updated July 1, 2026), checked October 19, 2026.
- Dave, About ExtraCash, checked October 19, 2026.
- Dave, No hidden fees (membership), checked October 19, 2026.
- Dave, ATMs and cash deposits, checked October 19, 2026.
- Dave, Checking account, checked October 19, 2026.
- Dave, Security and trust, checked October 19, 2026.
- Dave Inc., Form 10-Q for the quarter ended June 30, 2026 (filed August 5, 2026), checked October 19, 2026.
- Federal Reserve, Enforcement action against Evolve Bancorp and Evolve Bank & Trust (June 14, 2024), checked October 19, 2026.
- Federal Reserve, Enforcement actions file (CSV), checked October 19, 2026.
Head-to-head comparisons
This review is general information, not financial advice. APYs are variable and can change at any time. FDIC insurance protects deposits if an insured bank fails; it does not protect against the failure of a non-bank app company, which is why we name the bank that holds your money.