Dave App Review: Overdraft Protection

Let’s say you meet a guy named Dave.
And what if Dave said he’d help you figure out a monthly budget, help you spend less, and text you when he thinks you’re overspending?
How would you react?
You might be like, “Get out of my business, dude.”
But then what if he said he could also give you a no-interest advance on your next paycheck? Then you might be interested (or you might call the cops).
Well, The Dave App is Dave in this hypothetical scenario. So in this review, we’re going look at how this app works, what’s good (and bad) about it, and if it might be right for you.
Basically, we’ll be asking a single question: is The Dave App legit?

How The Dave App Works

The Dave App is a budgeting app available on iOS and Android, but it’s also more than your typical budgeting app. It tracks your expenses and lets you know if you’re spending too much over a threshold you set in order to help you avoid overdraft fees.
When you sign up for The Dave App, you will need to go through an approval process. And although it doesn’t require a credit check, you will be paying $1 per month for this app.
First, you connect the app to your bank account and then you upload your paystub and other documents. This process can take 1-2 days or even a week to complete.
The main goal of this app is to help you avoid overdrawing your bank account — it’s essentially an overdraft app. But what makes Dave different from similar apps is that it uses algorithms that attempt to predict your level of overdraft risk.
It looks at your recurring payments and your overdraft history to see how it can best help you. Then you’ll get text alerts about what it foresees happening (or has already happened).
It also offers interest-free advances if you need a bit of cash quickly — you can borrow in amounts of $25, $50, or $75. You’ll then pay that back once your paycheck is deposited, or whenever you’re able to. Dave doesn’t seem to be very strict with you paying it back (although he can simply pull the money from your account if it gets to be too long).
And as we know, paying off your debts can boost your credit score.
On top of the $1 per month fee, The Dave App has another way of making money. It hopes you’ll be so happy with your experience that you will leave a tip.
And with hopes to increase the incentive to tip, they partner with Trees for the Future — every percentage that you tip, the company will plant an equivalent number of trees. So tipping 1% means they will plant one tree.

Pros And Cons Of The Dave App

Now let’s take a look at the good and the bad of this app.

  • Interest-free loans of up to $75
  • Get text alerts when you’re getting close to overdrawing your account
  • Reasonable price of $1 per month
  • The Dave App FAQs are very helpful


  • Like a payday loan, advancing your paycheck can be dangerous if you aren’t careful
  • Can take a few days to a week to get set up with the app
  • They may consider charging interest on loans in the future
  • There’s no Dave app customer service phone number, only email contact

Final Verdict

So it seems The Dave App is a pretty great app for managing your money. Is it the best budgeting app? Possibly. It depends on your needs, your spending habits, and what you want in a budgeting app.
Despite all of the cool features and overall helpfulness of this personal budgeting app, it can be dangerous. As with a payday loan, you may end up borrowing money you can’t pay back, or pay back in a timely manner.
And because Dave seems to be not so uptight about getting his money back, it can be tempting to let your debts linger.
So if you are truly looking to be more responsible with your money, avoid overdrawing your account, get money in a pinch, and even help plant some trees, The Dave App seems to be a great option.
Please be aware that this is a anonymous guest post.

Support Analytical Millennial

If you found this post useful, I would appreciate it if you used one of these ways to support the blog.

  • Use my Amazon Affiliate Link on your next purchase.
  • Use my promo codes for any apps/programs that I review.
  • Leave a comment to let me know that I have active readers.





Leave a Reply

Your email address will not be published. Required fields are marked *