Need an advance on your next paycheck to help protect you from potential overdraft fees? Dave can help! To get an advance on your paycheck, we just need to verify the following:
- You have connected your checking account to Dave
- Your employer deposits your income into your checking account on consistent dates
- You’ll have enough funds after your next paycheck to pay Dave back
To do this, we look at the last two months of transactions in your checking account to confirm your income. So make sure you connect Dave to the checking account where your income is regularly deposited.
Next, check that you have your paychecks set up as direct deposits and that your transaction history shows at least two paychecks on consistent dates (ex. getting paid on the 15th and the last day of the month).
Lastly, we want to make sure you’ll be left with sufficient funds after paying Dave back after your next paycheck.
Dave's here to combat overdraft fees, but we also want to make sure that customers never fall into debt as a result of getting an advance.
That's why one of the things that Dave checks for is how much money you keep in your account after getting paid. Try and keep a sufficient balance in your account to pay all your bills after paying back your advance. This lets Dave's system know there's no risk of overdrafting.
If you're struggling to keep that much in your account after payday, try using Dave's budgeting tool. It can help you build up your account balance by telling you how much you can spend while still covering all your bills.