Apps Like Dave

Dave is a personal finance app that provides short-term payday loans through its ExtraCash feature. The app offers advances up to $500 with no credit check required.

If you select the standard option, a cash advance through Dave will cost you only the $1 monthly membership charge required to access the app’s features. Dave faces an FTC complaint, so comparing it against other options is wise.

Best apps like Dave 

Dave is best known for its payday advance feature, offering loans up to $500. You’ll repay your Dave loan on your next payday. Dave doesn’t charge interest, but you can pay an optional tip. You’ll also pay express fees if you want funds transferred faster than three business days.

Dave has plenty to offer, but it may not be your best option. Below is detailed information on the top five apps like Dave. Compare their terms to find which cash advance app best meets your needs.

EarnIn

Empower

MoneyLion

Brigit

Current

How does the Dave app work?

To qualify for a payday advance through Dave, you need to:

• Be 18 years of age or older
• Be a U.S. citizen or permanent resident
• Have a Social Security number or tax identification number
• Have a bank account that’s been active for at least 60 days
• Have a positive balance in your bank account
• Have recurring deposits in your bank account adding up to $1000 per month or more
• Have a valid email address

Dave makes it easy to sign up; just download the app, create a profile, link your bank account, and open Dave Spending and ExtraCash accounts. Once you’ve opened these accounts, request a cash advance up to your approved limit. 

The Dave Spending account—which acts like a checking account—is provided free of charge but is required if you want to borrow from the app. The application also offers the “Goals” account, a high-yield savings account that helps members set aside funds for large purchases, vacations, and emergencies. 

Our expert’s opinion on apps like Dave

Erin Kinkade

CFP®

I think these apps can be helpful for anyone starting out on their own to help them manage and understand their finances, with the app available almost anytime. It is important to choose an app that will work best for you by considering the pros, cons, and features listed above. I caution users to ensure they have a strong password, use multifactor authentication features, and change the passcode on their smartphone every three to six months.

Why consider other apps like Dave? 

Getting a payday advance through Dave is a terrific option if you need quick cash, but it has several drawbacks, including the short time you have to repay the loan. If you can’t repay the loan by your next paycheck, consider using Brigit, which allows you to choose your repayment date. 

The Dave Spending account is required to get a cash advance. Some people won’t want to complicate their finances further by opening another checking account and debit card. But you don’t need an extra account to borrow from EarnIn or Brigit—just link your current bank account.

Dave might also be too limiting on loan amounts and the number of advances you can take. The maximum loan for Dave is $500, but you can borrow up to $750 from EarnIn or $1,000 from MoneyLion with its RoarMoney service. Dave only allows one advance at a time, while Current permits multiple advances in a single pay period.

Customer ratings of apps similar to Dave

To make an informed decision on cash advance apps, it’s wise to check customer ratings. These numbers provide insight into how reliable and user-friendly the apps are. Use the chart below to compare how each app ranks.

App	Ratings*
Dave	4.8/5 (686.8K)
EarnIn	4.7/5 (282K)
Empower	4.8/5 (186K)
Brigit	4.8/5 (301.5K)
MoneyLion	4.7/5 (130.6K)
Current	4.8/5 (154.4K)

How to choose the best loans like Dave 

When choosing a cash advance app, consider several factors to find the best match for you. First, compare how much you need to borrow versus the loan amounts each app offers. If you need to borrow $500 or more, eliminate apps with low cash advance limits. 

Next, check out how much it costs to borrow from each app. While some apps work on an optional tip-based model, others require monthly subscriptions that can add up over time. Also, ensure you understand how much you’ll pay for instant loan access if you prefer not to wait for disbursement.   

You should also consider flexibility when choosing a cash advance app like Dave. Look for features that fit your financial needs, such as the ability to select your repayment date or take out multiple advances at a time. You can determine which app is the best option by evaluating these factors. 

FAQ 

Are other apps like Dave free to use?

Many apps like Dave offer free versions with basic features but may charge fees for premium features or instant funding. For example, EarnIn doesn’t have mandatory fees but charges for instant transfers. Brigit and Empower have monthly subscription fees that include access to their full suite of financial tools. Review each app’s fee structure to understand any potential costs.

Where can I find more apps like Dave?

You can find more apps like Dave by exploring financial blogs, app stores, and comparison websites. User reviews in app stores can give you insight into other users’ experiences.

Can sites like Dave ensure the security of my financial information?

Reputable cash advance apps, like Dave, use encryption and other security measures to protect your personal and financial information. These apps often comply with industry standards and regulations to ensure data security. Always check the app’s privacy policy and user reviews to ensure your data is secure before providing personal information.

Recap of the best companies like Dave