I used Dave, the Mark Cuban-backed software that would like to destroy bank overdrafts — and I also keep contemplating 1 oddly manipulative function

I used Dave, the Mark Cuban-backed software that would like to destroy bank overdrafts — and I also keep contemplating 1 oddly manipulative function

Dave, the Mark Cuban and fintech that is diplo-backed , rolled down its new Dave banking solution the other day and said it had raised $110 million. In light with this rollout, I made a decision to test their initial service that is overdraft-killing.

Dave is made to simply help its users avoid overdraft charges. It can this in 2 methods: by giving notifications when a person’s balance gets too low, and providing short-term payday loans. The solution costs $1 per month, and improvements are free with a tip that is optional.

The notion of tipping for the product that is financial be counterintuitive, nonetheless it works much like just just how tipping works into the solution industry. The customer is able to add a tip of 0-25% of the amount that they are requesting after requesting an advance. Continue reading →