Dave wants to save you from expensive overdraft fees

Meet Dave: an AI dressed up in a bearsuit that's just launched to save you from the evils of expensive overdraft fees. Hand Dave access to your checking account and the app's machine learning algorithms will get busy crunching your spending data so the bear can warn you about pending transactions -- like a monthly subscription for Netflix or your typical Saturday night Uber bill -- which might push you into the red and incur an expensive bank penalty. The US-only app predicts a user's "7 Day Low", aka the lowest it thinks your bank balance will drop in the next seven days, in order to encourage and support better money management. The ultimate aim being to help people avoid having to fall back on their overdraft as "an expensive form of credit", says co-founder Jason Wilk, describing it as a sort of "weather forecast" for money management. Dave also includes a payday loan facility -- so users who face the inevitability of having to dip into a negative balance can opt to borrow up to $250 ahead of their next paycheck to see them through.