Dave is a personal finance app that is known for its ExtraCash™ feature, which offers a short-term loan of up to $500. There are no required fees, but users may leave an optional tip. It also provides a banking service that does not charge overdraft fees and has no minimum balance requirement.

Is Dave legit? Dave is a legitimate option if you're interested in mobile banking. It partners with Evolve Bank & Trust, an FDIC-insured institution. For a fee of $1 per month, you have access to a spending account, a debit Mastercard, free cash advances and credit-building and budgeting tools.

Unlike some of its competitors, Dave provides advances to part-time or temporary workers who don't receive regular paychecks. Though users can get advances up to $500 - larger than some competitors' offerings - Dave's fast funding fees can be high compared to other apps.

The company makes money via membership fees, cash advance fees, donations, interchange fees, and a service called “Side Hustle.”

Q&A with Dave founder Jason Wilk. Right before the Silicon Valley Bank meltdown, I had a conversation with Jason Wilk, founder and CEO of neobank Dave, about that company's business.

Jason Wilk - Founder and CEO - Dave | LinkedIn.

Dave is a legitimate mobile app. The Dave Spending Account is a federally insured bank account, so you may safely keep up to $250,000 in the account.

Get up to $500 in 5 minutes or less¹ You could get approved as soon as you connect a bank account (ahem, in 5 minutes or less). Once you're approved, you have options when it comes to how much you take. We aim for amounts you can pay back without setting you back.

Pay bills or rent. No credit check and no interest! Get up to $500 instantly (1) with ExtraCash™ from Dave. There's no interest, credit check, or late fees.

Dave offers up to a $500 cash advance. In Dave's help center, they do mention that you'll likely get less than $250 the first time. The cash advance takes three days to arrive, or you can pay an express fee to receive it in 8 hours.

Jason Wilk About. Jason Wilk has 20 years of experience building successful digital companies. Currently, founder and CEO of Dave, a leader in digital banking and the inventor of interest free overdraft protection.

Corporate Profile Now, Dave is a financial platform serving 10 million members with banking, financial insights, overdraft protection, building credit, and finding side hustles.