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.
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.
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.
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.
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
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.
