Requirements
To determine what amount you can qualify for Dave's paycheck advance, the company will review:
At least three recurring deposits.
Your income history and spending patterns.
A total deposit monthly. You need to have $1,000+ to get a higher loan amount.
A minimum 60-day history on your external account.
The presence of a negative balance on your accounts.
Therefore, the amount you are eligible for can change every day.
Dave doesn't conduct any credit score checks for spending accounts, nor does it have a minimum balance requirement. You only need to pass a security check.
How to apply for a loan
To open an ExtraCash account, download the Dave App and link your bank account. The company will determine if you are eligible for a paycheck advance. The company will ask you questions about your personal information and financial details. Once you answer them, wait for Dave to contact you with the following steps.
If you are eligible, you will receive the details on the amount you can get and choose when you will pay back the paycheck advance.
