Financial Institution Cardholders Can Access Available Credit Through Their Bank Accounts with New Solution from Fiserv

Thursday, June 04, 2020

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Company: Fiserv

Consumers and small businesses facing income disruption and economic stress due to the COVID-19 pandemic can swiftly and affordably access funds from existing credit lines on credit cards through their financial institutions with a new solution from Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions.

FlexLine AdvanceSM from Fiserv is an alternative to traditional small-dollar loans that allows cardholders to more easily access available credit with no additional credit application, adjudication or origination fees, with funds deposited into their bank account. Cardholders can then use these funds to pay for expenses for which a credit card payment is typically not accepted, such as rent or mortgages, utilities and other living expenses, while small businesses can satisfy payroll, rent, utilities, and supplier and insurance obligations.

According to Fiserv research, 72% of consumer credit lines are currently unused, representing an average of over $4,000 available per account, and 83% of small business owner credit lines are currently unused, representing an average of over $15,000 available per account.

“Accessing available credit card funds will help cardholders make purchases or pay expenses where card payments are not accepted,” said David Shipper, senior analyst at Aite Group. “With FlexLine Advance, Fiserv allows financial institutions to quickly distribute funds during this time of need and retain account relationships that could be lost to a competing financial institution.”

FlexLine Advance allows participating financial institutions to define up to three lending options, including interest rate and payment period, and cardholders use their online account management tool to select their preferred plan, choose their loan amount and select the bank account to which the money should be sent. Electronic disbursements occur via ACH and funds are generally deposited within two business days.

“In the current COVID-19 environment, many consumers and small businesses are seeking out practical options that allow them to meet ongoing expenses,” said Chad Peck, vice president, credit, Card Services at Fiserv. “FlexLine Advance ensures nothing is standing in the way of getting funds into the hands of people and firms who need them as quickly as possible.”

FlexLine Advance is one of several deposit liquidity solutions Fiserv offers to financial institutions to help them deepen relationships with customers and members by providing easy and convenient access to funds when they need it most.

In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at

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