Avant Banking Launches Following Zero Financial Acquisition

CHICAGO, Dec. 16, 2021 /PRNewswire/ -- Avant, a leading financial technology company that gives middle-income consumers access to the credit they deserve, announced today the initial launch of Avant Banking.* The debut of Avant Banking expands the company's financial product portfolio of personal loans, credit cards and auto refinance, and follows its acquisition of Zero Financial, Inc. and its digital banking app, Level, in April.

Available now, Avant Banking includes access to spending accounts, debit cards,¹ ACH transfers² and, for those with direct deposits, access to payday funds up to two days early.³ After making a deposit, customers are issued a virtual card that can be immediately added to Apple Wallet® or Google Pay.™⁵

Furthering Avant's mission to serve underbanked consumers, Avant Banking was created with a transparent fee structure, meaning there are no monthly or hidden fees, such as maintenance or foreign transaction fees⁴. Customers also have fraud protection and are not financially obligated if their card is compromised⁶ and no minimum balance is required.

"Every consumer deserves access to innovative financial solutions to simplify and improve their financial journey," says Matt Bochenek, CEO of Avant. "We are excited to expand our growing portfolio of financial products created to empower our customers to move their financial lives forward."

To learn more about Avant Banking, visit https://www.avant.com/mobile-banking/ or download the Avant mobile app.

About Avant
Avant provides a full ecosystem of digital banking products, including personal loans, credit cards and auto refinance, to everyday American consumers. Through a combination of technology, analytics, and superior customer service, Avant gives underserved and unbanked consumers access to credit with innovative and rewards-based products that simplify and improve their financial journeys. Since 2012, Avant has connected nearly 2 million customers to $7.5 billion in loans and over 800,000 credit cards. A high-growth financial technology company,

Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune and Bloomberg, and has raised over $650 million of equity capital. Visit www.avant.com for more information.

*Avant, LLC is a financial technology company, not a bank. Banking services are provided through Evolve Bank & Trust, Member FDIC.

Avant-branded credit products are issued by WebBank, Member FDIC.

Media Contact:
Gina Cannon
Keeton PR
847.361.0506

¹  Banking services are provided by Evolve Bank & Trust, Member FDIC. The Avant Debit Card is issued by Evolve Bank & Trust pursuant to a license from VisaU.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.

²  Please find more information regarding transfer limits in the Avant Banking mobile app. While transfers are fast and free, there are certain amount restrictionson ACH transfers and we do place restrictions on ACH transfers initiated from the Avant Banking app if there are one or more unsuccessful transfer activities on your account.

³  Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available onthe day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

⁴ ATM operators may charge ATM fees, but no ATM add-on fees are charged by us. Use any ATM worldwide that accepts Visa® and we'll reimburse you the ATM operator fee up to 3 times per calendar month, up to $4 per reimbursement.

⁵  All product names, logos, and brands are the property of their respective owners in the United States and/or other countries and do not imply endorsement.

Apple Pay is a registered trademark of Apple Inc. Google Pay is a trademark of Google LLC.

⁶  You will not be held responsible for unauthorized transactions if you use reasonable care in protecting your card from loss or theft, and you promptly report the loss or theft.

SOURCE Avant