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Home > QFINANCE Dictionary > Definition of automatic transfer service

Definition of

automatic transfer service

Banking

automatic funds transfer protection an arrangement by which money from a depositor's savings account can be transferred automatically to his or her checking account to cover an overdraft or maintain a minimum balance.

Related definitions of "automatic transfer service"

Definitions of ’automatic transfer service’ and meaning of ’automatic transfer service’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’automatic transfer service’ and other financial terms with our online QFINANCE Financial Dictionary.

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