I attempted Dave Banking, the Mark Cuban-backed fintech, and it is a dead-simple application with genuine potential
Dave, the Mark Cuban and Diplo-backed fintech startup, rolled down its brand brand brand new Dave banking solution in June, announcing a $110 million raise during the exact same time.
I reviewed their initial service that is overdraft-killing and felt it had some very nice features. Nonetheless, the software additionally managed to get super easy for users to provide an optional tip that may be equal to the payday loan rates that are highest.
I used Dave’s brand brand new banking solution, and my emotions are a lot more positive. It really works much like other challenger that is online-only. The consumer does their banking in the Dave application, have access to a system of ATMs that need no costs for money withdrawals, and will pay no charges beyond the $1 month-to-month charge that’s currently an integral part of Dave’s non-banking solutions.
The solution additionally does not enable overdrafts, protecting users from aggressive charges. As of this moment, Dave banking is open to users of these software, who is able to subscribe to a waitlist.
Even though the marketplace for challenger banking institutions has become increasingly crowded, Dave banking is only a little different. (more…)