MoneyLion and Dave are the two most feature-matched apps on this list — both offer cash advances up to $500, both have banking accounts, and both target people living paycheck to paycheck who need short-term financial breathing room. The differences come down to price, savings yield, and the extras each app layers on top. This head-to-head breakdown covers 14 factors so you know exactly which one is the better fit before you sign up.
Quick Comparison Table
| Factor | MoneyLion | Dave |
|---|---|---|
| Cash Advance | Up to $500 (Instacash) | Up to $500 (ExtraCash) |
| Monthly Fee | $0–$19.99 | $1/month |
| Express Transfer Fee | $0.49–$8.99 | $3–$25 |
| Checking Account | Yes (RoarMoney) | Yes (Dave Spending) |
| Savings Account | Limited | Yes (Goals, ~4% APY) |
| APY on Savings | Low | ~4.00% |
| Credit Building | Yes (Credit Builder Plus) | No |
| Investing | Yes | No |
| Overdraft Protection | Via Instacash | Via ExtraCash |
| Credit Score Access | Yes (free) | No |
| Budgeting Tools | Yes | Basic (Side Hustle) |
| App Rating (iOS) | 4.7★ | 4.8★ |
| Customer Support | Chat + email | Chat + email |
| Best For | Credit builders & investors | High-advance seekers with savings goals |
1. Cash Advance Limit
MoneyLion: MoneyLion’s Instacash advances go up to $500 with no interest charged. New users typically start at $10–$25 and can unlock higher limits by establishing direct deposit and account history. There are no mandatory fees for standard delivery, though express options carry a charge. Advances are repaid automatically on your next payday.
Dave: Dave’s ExtraCash feature also goes up to $500, making it the closest direct competitor to MoneyLion in terms of advance ceiling. Dave uses an algorithm to determine your advance amount based on your bank history and income patterns — no subscription is required to access ExtraCash beyond Dave’s $1/month membership fee. Express delivery fees apply if you want the money instantly.
2. Monthly Fees
MoneyLion: MoneyLion’s base features are free, but unlocking the full suite — including higher Instacash limits and the credit builder loan — requires the Credit Builder Plus membership at $19.99/month. The $19.99 monthly cost is a meaningful commitment, though some of it comes back to you through the credit builder loan’s reserve account over time.
Dave: Dave charges just $1/month for its full membership, which includes access to ExtraCash advances, the Dave Spending account, Goals savings account, and the Side Hustle job board. At $12/year, it’s one of the cheapest fintech memberships available. The low fee makes it easy to justify, especially if you use the advance feature even once a month.
3. Express / Instant Transfer Fee
MoneyLion: MoneyLion’s express delivery fee for Instacash ranges from $0.49 to $8.99 depending on the advance amount. The smaller the advance, the smaller the fee — a $25 advance might cost $0.49 to expedite, while a $500 advance would be toward the higher end. Standard delivery to a linked external account is free but takes 1–3 business days.
Dave: Dave’s express fee structure is more aggressive — instant delivery to an external bank account can cost up to $25 depending on the advance amount, and delivery to a Dave Spending account is faster and cheaper. The fee range feels steep for larger advances, and it’s the most common complaint from Dave users in app store reviews. If you need $500 instantly to an external bank, the express cost can cut significantly into what you receive.
4. Banking Account (Checking & Savings)
MoneyLion: MoneyLion’s RoarMoney account functions as a full checking account with a Mastercard debit card, no minimum balance, and access to a large ATM network. It integrates with Instacash and the investing features, making it a capable hub for MoneyLion’s broader financial ecosystem. The savings features within MoneyLion are more limited in terms of standalone yield.
Dave: Dave offers the Dave Spending account (checking) and a Goals savings account, giving you a more complete two-account banking structure. The Spending account comes with a Visa debit card and no minimum balance. The Goals account allows you to set savings targets and earns a notably competitive APY, which we cover in the next section. Dave’s banking setup is clean and easy to manage for everyday use.
5. APY on Savings
MoneyLion: MoneyLion doesn’t lead on savings yield and doesn’t prominently feature a high-APY savings account as part of its core offering. If maximizing your savings rate is a priority, MoneyLion is not the stronger choice between these two. Users who open a RoarMoney account primarily for cash advances or investing may not even use a savings feature at all.
Dave: Dave’s Goals savings account offers around 4.00% APY, which is significantly above the national average and competitive with the best high-yield savings accounts on the market. This is one of Dave’s most underappreciated features — many people sign up for the cash advances and don’t realize the savings rate is genuinely strong. If you’re going to keep money in the app anyway, the APY makes Dave a compelling place to store it.
6. Credit Building Features
MoneyLion: Credit building is one of MoneyLion’s strongest differentiators. The Credit Builder Plus plan includes a small installment loan that reports to all three major credit bureaus, helping you build a payment history — the most important factor in your FICO score. Payments are deducted automatically, and a portion accumulates in a reserve account that’s returned to you at the end of the loan term.
Dave: Dave does not offer a credit builder loan or a secured credit card. It doesn’t report account activity to credit bureaus as part of its standard product. If improving your credit score is a goal, Dave provides no direct tools for that — you’d need to use a separate app or product alongside Dave. This is a clear gap for anyone trying to repair or build credit.
7. Investing Options
MoneyLion: MoneyLion includes a managed investment account that lets you invest in ETF portfolios with as little as $1. The robo-advisor approach makes it approachable for beginners, and having it inside the same app as your cash advance and banking account makes MoneyLion a genuinely all-in-one platform. It won’t satisfy active traders, but it’s a solid starting point for new investors.
Dave: Dave does not offer any investing features. The app is focused on banking, savings, and cash advances — investing is outside its scope. Users who want to invest will need to use a separate platform like Robinhood, Fidelity, or MoneyLion. If investing matters to you, this is a meaningful difference between the two apps.
8. Overdraft Protection
MoneyLion: MoneyLion’s overdraft protection works through Instacash — if you’ve set up an advance and your account balance dips, the advance can prevent a negative balance from triggering overdraft fees from your bank. It’s most effective when your RoarMoney account is the primary account, giving the system full visibility into your balance in real time.
Dave: Dave’s ExtraCash advance works similarly — it can serve as a buffer before your account goes negative. Additionally, Dave sends balance alerts when your account is running low so you can take action before an overdraft hits. Neither Dave nor MoneyLion replaces the automatic no-fee overdraft coverage that Chime’s SpotMe provides, but Dave’s proactive alerts make it more user-friendly in this area.
9. Credit Score Monitoring
MoneyLion: MoneyLion provides free credit score monitoring with your TransUnion score available directly in the app. You get score tracking over time, insights into what’s affecting your score, and improvement tips. It’s particularly valuable in combination with the Credit Builder Plus loan, letting you watch your score respond to on-time payments month after month.
Dave: Dave does not offer credit score monitoring as part of its product. There’s no score tracker, no bureau integration, and no credit-related insights within the app. For Dave users who want to track their credit, they’d need to use a free service like Credit Karma or a bank that includes monitoring. This is another area where MoneyLion’s broader feature set stands out.
10. Budgeting & Financial Tools
MoneyLion: MoneyLion includes a financial tracker and a “Financial Heartbeat” wellness score that evaluates your spending, saving, and borrowing habits. You get spending insights, bill tracking, and personalized financial tips. It’s not a full-featured budgeting tool, but it gives users a reasonable snapshot of their financial health without needing a separate app.
Dave: Dave’s main financial tool beyond banking is the Side Hustle job board, which helps users find gig work, part-time jobs, and freelance opportunities to earn extra income. It’s a unique angle — rather than just tracking your spending, Dave tries to help you earn more. There’s no category budgeting or spending analysis built into the app, which is a gap for users who want deeper financial tracking.
11. Eligibility & Requirements
MoneyLion: To qualify for Instacash, you need a connected bank account with at least two months of transaction history and recurring deposits. No credit check is required for any MoneyLion product except Credit Builder Plus, which uses a soft pull only. MoneyLion is widely accessible across credit profiles, making it viable for users with poor or no credit history.
Dave: Dave requires you to link a bank account with at least 60 days of history and consistent direct deposits to qualify for ExtraCash advances. The advance amount is calculated algorithmically based on your income and spending patterns. There’s no credit check at all — Dave looks only at your banking behavior, not your credit file. The $1/month membership is the only barrier to entry.
12. App Experience & Ratings
MoneyLion: MoneyLion is rated 4.7 stars on the App Store and 4.6 on Google Play. The app is feature-rich, which some users love and others find slightly overwhelming at first. Navigation is generally smooth, and the dashboard does a good job of surfacing the features most people use — Instacash, RoarMoney balance, and credit score — front and center.
Dave: Dave holds a 4.8-star rating on the App Store and is well-reviewed on Google Play. The app’s interface is widely praised for being simple and intuitive — you can access your advance, banking, and goals without any confusion. The clean design reflects Dave’s focused product philosophy: fewer features, better executed. Users report fewer bugs and a more consistent experience than MoneyLion.
13. Customer Support
MoneyLion: MoneyLion support is available through in-app chat and email. There’s no phone support option, which can be frustrating if you have an urgent issue — like a failed advance or a locked account — that needs immediate resolution. Response times have been reported as inconsistent, with some users waiting longer than expected during busy periods.
Dave: Dave also offers in-app chat and email support, with no phone line available. The support experience is similar to MoneyLion’s in structure but users generally report faster response times via chat for common issues. Dave’s Help Center is thorough and resolves many questions before a user needs to contact support directly.
14. Final Verdict — Who Should Use Which
Choose MoneyLion if you want credit building tools alongside your cash advances — specifically the credit builder loan that reports to all three bureaus. MoneyLion also wins if you want to start investing without opening a separate account, or if you want credit score monitoring built into the same app. The $19.99/month fee is justified if you actively use the credit builder feature.
Choose Dave if you want the highest possible cash advance (also $500) at the lowest membership cost ($1/month), paired with a genuinely competitive ~4% APY savings account. Dave is the better choice if you don’t care about credit building or investing, and just want a solid, affordable app for cash advances and banking. For most users who aren’t focused on credit, Dave’s value-per-dollar is hard to beat.