What is Dave cash advance?

Yes, Dave gives cash advances of up to $500 through their ExtraCash™ feature. There's a monthly membership fee of up to $5 to access this and other services. You can borrow any amount between $25 and $500 based on your eligibility, with no interest or late fees, and agree to repay it on your next payday. Free standard delivery deposits the funds in 1–3 business days, but for a 1.5% fee, you can get the money transferred within an hour.

Some of the Dave cash advance requirements include:

1. Residency: Be a legal resident of the United States.
2. Legal age: Be of legal age to form a binding contract.
3. Legal eligibility: Not be prohibited by law from using Dave's services.
4. Income history: Demonstrate a sufficient income history.
5. Spending habits: Maintain consistent spending patterns.
6. Recurring deposits: Have at least three recurring deposits in your bank account. Dave will then determine your eligibility and the maximum cash advance you can receive, up to $500. Your eligibility refreshes daily based on your income history, spending habits, and recurring deposits. There are no credit checks required.

Beyond the cash advances that Dave provides, and for a monthly membership fee of up to $5, there are several other features that might be useful to you.

Fee-Free Dave Checking Account

Dave offers a checking account with no hidden fees, no minimum balance requirements, and no overdraft charges. With the Dave Checking Account, you can withdraw money for free at over 40,000 MoneyPass ATMs nationwide. Plus, you'll have the option to receive your paycheck up to two days early when you set up direct deposit. The account seamlessly integrates with the app, allowing you to manage your finances all in one place.

High-Yield Goals Account for Savings

If you're aiming to save more, Dave's Goals account might help. It provides a competitive annual percentage yield (APY) of 4.00% on your savings balance (rates as of 10/01/2024; rates are variable and may change). You can create multiple savings goals, set targets, and track your progress toward each one. The app also lets you automate your savings by setting up recurring deposits or by rounding up your purchases to stash away the spare change.

Income Opportunities through Side Hustles and Surveys

Dave can also help you boost your income by connecting you with various earning opportunities directly within the app. You can explore over 1,000 side hustles, including part-time gigs, remote work, and freelance jobs that fit your schedule. Additionally, you have the option to participate in paid surveys and receive instant payouts to your Dave Checking Account.

Financial Management Tools

To keep you on top of your finances, Dave offers budgeting tools that allow you to track your income and expenses by connecting your external bank accounts. You'll receive notifications about upcoming bills and expenses, helping you avoid overdrafts and unexpected fees. The app also provides access to your credit score and offers insights to help you monitor and improve your credit health.