How the ExtraCash™ account works

Wondering how you can get up to $500 with no credit check or interest—and pay it back with no late fees? Here’s what you need to know.

Open an ExtraCash™ account

See how much of an ExtraCash™ advance you qualify for with no credit check. Just download the Dave app, link your bank account to see if you’re eligible for an advance, and then open an ExtraCash™ account. We’ll ask you a few basic questions along the way.

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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. And check the app often—your eligibility refreshes daily at midnight.

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Transfer it to any account

Instantly transfer your advance to a Dave Spending account.¹ Who doesn’t like instant cash? You can also send it to a different debit card within an hour for a small fee. Depending on how much money you advance, express fees range from $3–$15 for Dave Spending transfers and $5–$25 for external transfers.

Confirm your settlement

When you transfer the money, your ExtraCash™ account balance becomes negative. Your settlement date is the day you agree to bring your ExtraCash™ account balance back to $0. It’s usually on your next payday or, if we can’t determine your payday, the nearest Friday to when you took the advance.

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Tip to give back

You can also leave an optional tip when you take an advance. A portion helps run ExtraCash™ and the rest goes to Feeding America. Dave members have helped donate over 108M meals to date.2 Tipping (or not tipping) will not impact your eligibility for an advance.

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Settle your balance

On your settlement date, we automatically pay back the advance (plus express fees and optional tips) using your connected bank accounts based on your available funds. This brings your negative account balance to $0. If you can’t pay the full balance, we run partial settlements instead. We don’t charge interest or late fees, so settling up won’t come with surprises.

Tip: To ensure your settlement runs smoothly, don’t disconnect or change your connected bank account information between the time you request an advance and your settlement date.

Get ready for more money

Your settlement can take 1–3 business days to post to your ExtraCash™ account. Once it does and your balance is $0 (or above), the “cool-off period” ends and you can try for another advance.3

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​​Stay ahead

If you have a few spare bucks, you can deposit them in your ExtraCash™ account for the next time you need an advance. The more you contribute, the less you have to pay back.

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1Based on internal data as of March 30, 2023, for users who had connected an external bank account and transferred an advance to their Dave Spending Account. ExtraCash™ is a DDA account with overdraft utility, advances are subject to eligibility requirements and identity verification. Taking an ExtraCash™ advance will make your account balance negative. Express delivery fees apply to instant transfers. As of January 2024, the average approval amount for disbursed advances is $160 in the trailing six months. See the Dave ExtraCash™ Deposit Agreement and Disclosures for more details.

2108M meals have been donated by Dave via member tips as of April 2023. Data is calculated as 10 meals pledged per dollar donated. Dave donates $0.10 for every percentage tipped. $1 helps provide at least 10 meals secured by Feeding America on behalf of local member food banks.

3Cool-off periods happen when you settle an advance that has not yet posted to your ExtraCash™ account. This can take 1–3 business days. You can still deposit funds into your ExtraCash™ account during this period.