[3][4] Lauren Saunders of the National Consumer Law Center expressed concern that some users may feel compelled to tip, resulting in it being not too different from paying interest.

[9] Shark Tank star Mark Cuban led a $3 million seed investment round in the company, saying he was crushed by overdraft fees in his twenties.

The CEO of Dave, Jason Wilk,[10] was the former creator of AllScreen, a company which was also originally funded by Cuban, who put in a $300,000 investment.

[18] On November 5, 2024, the Federal Trade Commission filed a complaint alleging that Dave used deceptive advertising, not disclosing fees for their cash advance services, and misrepresenting the amount they would use tips for charity.

[19] On December 30, 2024, the United States Department of Justice filed an amended complaint against Dave and CEO Jason Wilk "for alleged violations of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA).