Looking to deposit a check on Dave Mobile App and want to get an idea of how long it takes to get the funds available in your account, you are on the right post.
In a nutshell: It can take up to 10 days for the funds to be available on mobile check deposit on the Dave App. But you have the option to get the funds instantly for a fee.
As they say- the devil is in the details. So you have to consider factors that can impact your Dave mobile funds availability, how does it compare with other banking apps etc. that is covered in this post.
Check mobile deposit has now become a standard feature with most online banking apps.
If you have the Dave Spending Account, you can use the check cashing feature on the Dave mobile app. You need to snap photos of the check and enter the details to submit it using the app.
The facility is offered by Dave through Ingo Money Services and not an in-house service.
While you can deposit a check from the comfort of your home or when you are on the go using the app, how soon will your funds be available is the boiling question.
Dave Mobile Deposit Funds Availability [How Fast is It]
The Dave App offers two options to deposit a check, depending on how fast you want funds credited in your bank account.
The two options are:
- Free check deposit- Takes up to 10 days to have the check cleared and funds deposited in your account
- Instant Check deposit – Funds are made available instantly– but involves a 5% fee for check value greater than $100 (Flat $5 fee for check value up to $100)
If it is a US stimulus check from Uncle Sam, the fees and limits are different. This involves a more reasonable 2% fee on deposits above $250. You may also expect it to be cleared sooner (more about this on the factors)
You can check the fees for deposit when you submit the check on the Dave app.
So if you are in urgent need of funds, the instant option can be used keeping in mind the fees. On the other hand, the free check deposit option does involve a longer wait time.
Dave is more popularly known for its cash advance offering and is not the most popular option, when it comes to cashing your check.
Dave does not seem to mention the specifics of what kind of checks are accepted, cut-off time and other details on its website. Essentially, it is
The 10 days timeline seems very long when you compare with some other options e.g. Chime mobile check deposit can be expected on the next business day for small value checks.
But the 10 days period is the maximum time. In general, the following factors tend to have an impact on the check processing time:
- Value of check involved (higher amounts may take longer)
- Type of check involved – US Treasury, Payroll printed checks usually get cleared faster
- Parties involved in the check
- Time and day when the check is submitted e.g. If you deposit the check on non-business days like weekend or just before weekend, it will probably take more time to see the funds land up in your account
How to Cash A Check on Dave App? [Steps]
- Open Dave App on your phone and log in
- Tap on your card from the home screen or find it under the Accounts Option
- On the green bar, tap Add funds
- Tap Cash a check
- Follow the on-screen prompts
- Take images of the front and back of the check
- Enter the check amount
- Review the details and confirm before submitting
Dave App seems to be managing the whole service through Ingo Money- you would find they mention the Ingo Money contact points, if you need any help in cashing the check
• Phone: (229) 276-3990
• Email: [email protected]
• Live chat: ingomoney.com
Dave Mobile Check Deposit Limits
There is no check deposit limit mentioned on Dave website. However, you usually are able to deposit a check up to $5,000 in line with their other limits.
Other Mobile Apps for Check Deposit
If you are interested to know other apps that offer check deposit services-
- Chime App– Free check deposit and relatively faster
- Venmo App – Offers mobile check Deposit using Ingo Money only, similar to Dave in timelines and fees
- Cash App– No fees but for eligible users only
If you are looking for physical options, you can even cash a check at Walmart for $3.74 fee for up to $1000 check.
So the funds deposit availability on Dave depends on which option you choose. If you are in hurry, it may not be a cheap option and does not make sense for small value checks. Let us know about your experience and queries in the comments, to help other readers.