Dave
Pitched as the bear that fights the banks: cash advances against overdrafts, then a full spending account.
ExtraCash advances; budgeting-first.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner bank (Evolve).
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from Dave’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| AI | AI underwriting in production |
| HQ | Los Angeles, US |
| Founded | 2016 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner bank (Evolve) |
| Card | Visa · Debit |
| Stablecoins | No |
| KYC | Yes |
| Active regions | North America |
| Countries | United States |
| Founders | Jason Wilk |
| Funding | Public (DAVE) |
| FX markup | 3% foreign currency conversion fee on non-USD purchases (Mastercard wholesale rate) (2026-07) · source ↗ |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @davebanking ↗
Common questions about Dave
What is Dave?
Dave is a fiat neobank, headquartered in Los Angeles, US and founded in 2016. Your money is held custodially, so Dave or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner bank (Evolve)).
Does Dave have a card, and where can you use it?
It issues a Visa debit card. It is available in North America.
Does Dave require KYC?
Yes. Dave requires identity verification (KYC) to open an account, as a partner-bank model.
What does Dave cost?
From the verified fields: FX abroad — 3% foreign currency conversion fee on non-USD purchases (Mastercard wholesale rate) (as of 2026-07). Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Dave before relying on them.
Early investors
Head-to-head
Dave vs Chime · Dave vs MoneyLion
Peers
Chime · Wise · Varo · Current · SoFi · Ally Bank
Dave appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in North America (126) · Neobanks that issue a Visa card (182) · Neobanks in United States (66)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.