How the ExtraCash™ account works
Open an ExtraCash™ account
Download the Dave app, link your bank to see if you’re eligible for an ExtraCash™ advance, and then open an ExtraCash™ account. We’ll ask you a few basic questions along the way.
Advance up to $5001
You can qualify for cash in minutes and get it in seconds. Just choose how much you’d like to take, up to your qualified amount. Your eligibility refreshes daily at midnight.
Transfer it to any account
For an express fee, send the money to your Dave Spending account in seconds or external account in under 1 hour. Depending on how much money you advance, express fees range from $1.99–$9.99 for Dave Spending transfers and $2.99–$13.99 for external transfers. Not in a hurry? You can send the money to any account in 1–3 business days at no charge.
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.
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. No worries, we don’t do late fees.
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. 2