Dave
Dave offers a mobile banking app that simplifies finances with features like interest-free advances, early paycheck access, and savings tools.
Mobile Banking Services
Dave provides a mobile banking app designed to simplify financial management for its users. The app offers various features, including budgeting tools, early paycheck access, and the ability to earn interest on balances. Users can manage their finances efficiently through this all-in-one platform.
ExtraCash Account
The Dave mobile banking app includes an ExtraCash account that allows users to access advances up to $500 with no interest or late fees. This feature is especially useful for those needing immediate funds without the burden of traditional loan costs.
Dave Spending Account
Dave offers a Spending account that provides several functionalities such as early paycheck access, budgeting assistance, and the ability to earn interest on account balances. This account is designed to streamline financial operations, giving users more control over their money.
Goals Account
The Goals account from Dave aims to help users save money by offering a substantial 4.00% APY. This feature is tailored for individuals focused on achieving their financial savings goals, providing a significant incentive through its high-yield interest rate.
Side Hustle Feature
Dave includes a Side Hustle feature within its app, presenting users with over 1,000 ways to earn additional income. This feature supports users in finding supplementary income opportunities, enabling them to improve their financial standing.
FDIC-Insured Accounts
Accounts offered by Dave are FDIC-insured up to $250,000 through Evolve Bank & Trust, ensuring that users’ money is protected. This security measure provides assurance to users regarding the safety of their funds.
Security Features
Dave provides robust security features, including 24/7 fraud monitoring and in-app control over the Dave Debit Mastercard. These measures are designed to protect users from unauthorized transactions and fraudulent activities.
Paycheck Access
With direct deposit, Dave allows users to access their paycheck up to 2 days earlier than traditional banking methods. This feature offers more immediate access to earned wages, providing financial flexibility for users.
Round-Up Feature
Dave offers a round-up feature that helps users save money by rounding up their purchases to the nearest dollar and setting aside the difference. This small change-saving mechanism encourages user savings in an effortless manner.
Impact on Overdraft Fees
Since 2017, Dave has played a significant role in helping its members avoid over $2.5 billion in overdraft fees. This service highlights the company's commitment to providing a cost-effective financial service to its user base.