Dave: who holds your money
Dave is not a bank. Dave says customer money is held at Coastal Community Bank, with insurance reaching customers as pass-through FDIC insurance at the partner bank, subject to the app's recordkeeping. We read this information in the app's own public disclosure on September 5, 2026, and this page quotes that disclosure below. You can check each partner bank's own page on this site.
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.
Partner banks
- Coastal Community BankFDIC #34403 · program bank27.4%above the insured limitC21.4
The figure is the share of total bank deposits above the $250,000 federal insurance limit, reported quarterly to the FDIC. High shares are normal for banks holding large app program balances. They do not mean your balance is uninsured: pass-through insurance usually covers customers individually at the partner bank. Across US banks in 2022 to 2026, those above roughly 36% saw large quarterly total deposit declines more often than those below. Most banks above that level saw no such fall. This measures deposit movement and does not predict trouble for any bank.
Disclosure
Dave is a financial technology company, not a bank. We partner with Coastal Community Bank, Member FDIC, or another partner bank, to provide accounts and services. These are FDIC-insured.
dave.com · as of September 5, 2026