How Does Dave App Work. The dave app is intended to help people avoid overdraft fees.the membership fee to use the app is $1 a month. Dave app keeps all your sensitive data more encrypted and does not store your online banking credentials.
The dave debit mastercard® is issued by evolve bank & trust, pursuant to a license from mastercard international. Beyond that fee and the monthly dollar cost for dave, the app also brings in revenue through an unusual way for a lender: I was very skeptical about providing my bank info, but since that is the only way to realistically obtain an advance, i submitted my banking info, verified my identity and email address, and miraculously dave fronted me 20 bucks, on the spot.
This is projected to grow to $40 billion by 2020.
It guarantees you that all your bank information is secure and safe. The app never stores your bank login details. Three friends were fed up with their banking experience, often incurring $38 overdraft fees and never having insights into how much money was left before payday. Beyond that fee and the monthly dollar cost for dave, the app also brings in revenue through an unusual way for a lender: