Dave: who holds your money

Dave's disclosure, read on September 5, 2026, describes FDIC pass-through coverage, deposit insurance through partner banks. Coverage depends on customer identification and recordkeeping. It protects eligible deposits when a partner bank closes, not the app company itself. An app closure does not trigger that protection. The visible disclosure and notes provide the programme’s specific conditions.

Current commentary

Dave is not a chartered bank, and customer money sits at its partner, Coastal Community Bank. Coastal Community Bank has letter C on this site, compared with banks of similar size. Deposit insurance passes through Coastal Community Bank to each customer, provided Dave’s records identify that customer. As of September 5, 2026, the stated limit was $250,000 per depositor, per insured bank, for each account ownership category.