Dave and NetSpend are compatible with each other and can be connected to it. The Dave app helps to give you instant access to cash advances, and the Netspend platform helps to make your banking simple and effective every day. It’s a match made in Heaven!
The Dave app makes it easy to access cash advances with just the click of a button. But can you use it with the equally useful Netspend? Let’s see.
Borrowing money is scary. As great as it is to be able to access emergency money when you suddenly find yourself in need of it, it can incur a heavy cost if not managed properly. There is somewhat of a stigma attached to receiving a cash advance that puts many off from trying it.
The Dave smartphone app is seeking to take away this stigma, to make receiving a cash advance stress and guilt-free.
The Dave app sets itself apart from its competition by offering much faster access to cash advances than any other bank or platform. This can help users to avoid paying overdraft fees, as Dave does not charge any amount of interest, and instead just asks that users pay for a monthly membership subscription.
The Dave app sure is great, but it could definitely be better when used in tandem with other smart banking platforms and applications, such as Netspend.
Is the Dave app compatible with Netspend? And can you expect to see any benefits from using the two in tandem? Let’s find out together!
RELATED READ: How to Borrow Money from Cash App?
Can You Use the Dave App With Netspend?
Yes. You can use the Dave app with an associated Netspend account. However, connecting a prepaid debit card to the Dave app may not yield quite as many benefits. The Dave app is designed to help users from incurring overdraft fees, and such fees cannot be incurred on debit cards.
However, even without a credit card, the Dave app can help you to get access to emergency funds within seconds.
Find that you suddenly need to pay to have something repaired at home, and you don’t have enough funds? Simply use the Dave app to cover you for that period, and then pay that money back when you are next paid.
READ: Can a Netspend Account Be Garnished?
What Benefits Are There For Using the Dave App With Netspend?
Netspend incurs no interest fees but instead is funded by user memberships. If you want to have access to Dave’s emergency funds when you need them, you need to pay a small monthly fee first. You can also tip the app, whenever you feel like it.
However, what is worth mentioning is that the Dave app can only lend small amounts of money to its users at one time. This is generally around $250 per month. This is more than enough to help with small emergency bills or payments and ensures that you do not owe an excessive amount of money, with interest, the next month.
The Dave app is designed purely for those situations where you find yourself unable to pay for something that you need to buy and is not a replacement for a larger loan. This is how they are able to operate their services without ever once incurring interest. You should not download the application looking to make a quick buck, as it is not sustainable, and the money will still need to be paid back eventually.
Read: Can I Load My Netspend Card with PayPal? Not Directly – Here’s How
Are There Any Other Alternatives to the Dave App?
If you find that the Dave app isn’t quite taking your fancy? Not to worry! There are so many other alternative applications designed to fulfill the same purpose as Dave.
1. Earnin
Having a good budget is key to avoiding so many money woes. Setting out your usual spending and outlining the amount of disposable income you have helps you to make important decisions towards saving money.
However, sometimes, life just gets in the way and throws you a curveball, such as a repair bill or a fine. In cases like this, you need Earnin.
Similar to Dave, Earnin helps you to gain quick access to cash when you need it. However, quite unlike Dave, you don’t need to sign up for a subscription fee. This makes it great for those that don’t want to sign up for a recurring payment and want to pay for something on a one-off basis.
The Earnin app instead relies on tips from users, as thanks for offering the service. This acts as a great marker of quality, as it shows that Earnin has faith in its user base to pay back its dues.
However, the lack of a subscription model could mean that Earnin is slightly less stable than Dave, as there is no regular income reaching the company. However, it definitely makes for great one-off use in case you find yourself low on funds.
2. Even
If you want a useful budgeting application that also allows you to get access to cash advances, then you’ll be perfectly served by the Even app. This app features a comprehensive budgeting platform that allows you to track all of your spending, down to the cent. Through this, you can help to curb unnecessary spending and get your finances back on track.
However, in those odd moments where an unexpected massive payment rears its ugly head, you’re going to need a bit of help. Even are able to jump right in to assist you, by giving access to money from their future paychecks. This is why Eve is being used by many startups and even big businesses. Employees are able to track their paychecks, and even access advances from the next month’s paycheck. This means that no money that isn’t rightfully owed to the user is sent to them, which means there are no scary interest fees to pay when you settle your debts!
Similar to Dave, Even does run off of a subscription model, but this helps them to keep their servers, and your data, secure.
Frequently Asked Questions:
Is Dave’s app safe?
The Dave app features no hidden catches, and the only costs incurred are the regular membership fees charged on a monthly basis. However, it has been noted that the Dave app has some security failings, as evidenced by a 2020 data breach that compromised the data of many users. Dave has since improved their security to make up for these past failings.
Do you have to pay back Dave?
As amazing as it would be to borrow money without having to pay it back, Dave still is not able to offer this. If you borrow money from the Dave app, you will have to pay it back. The amount owed will be charged to your account on your regular payday so that your current funds are reflective of what you owed.
How long do you have to pay Dave back?
You have 30 days from the date that you access the advance to pay it back. Only after you miss this payment date does Dave incur any kind of interest. If you miss the 30-day repayment window, then you are likely to be charged up to $5, but this depends on the amount owed.
In Conclusion:
The Dave app helps to give you instant access to cash advances, and the Netspend platform helps to make your banking simple and effective every day. It’s a match made in Heaven! Every year, new innovations and advances in online technology help us to get more in control of our everyday finances, and Dave and Netspend have taken some of the biggest strides of all.
So if you’ve been on the fence about signing up for a Dave membership, what do you have to lose? You can use both your Netspend and Dave memberships in tandem to create the perfect financial haven!
