Dave

Dave is a financial app that combines cash advances (called ExtraCash) with a checking account that offers early direct deposit. The main draw is getting cash advances up to $500 with no interest or late fees, plus receiving your paycheck up to 2 days early. The service requires opening both an ExtraCash overdraft deposit account and a Dave Checking account to use the cash advance feature.

The good news is that Dave doesn't charge interest on cash advances and offers access to over 40,000 fee-free ATMs through the MoneyPass network. The early direct deposit feature works like most competitors, getting you paid faster when your employer's payroll files arrive early. Cash advances are settled automatically when your next paycheck hits, making repayment straightforward.

The fee structure has some catches to watch for. There's a monthly membership fee up to $5 for ExtraCash access, plus a potential overdraft fee that's the greater of $5 or 5% if you overdraw your account. If you need instant transfers to an external debit card, you'll pay 1.5% for that convenience. Out-of-network ATM fees still apply when you're not using MoneyPass locations.

The biggest gotcha is that not everyone qualifies for ExtraCash, and very few people actually get the full $500 limit. Most users start with much smaller amounts like $25-100. Dave can also demand repayment at any time, and you might need multiple overdrafts to build up your limit. The requirement to open two separate accounts just to access cash advances feels unnecessarily complicated compared to other services.