Explore commonly used personal finance terms.
An Automatic Transfer Service is a banking feature that allows customers to set up automatic, scheduled transfers of funds between accounts. This service is commonly used to avoid overdraft fees by transferring funds from savings to checking or to set up recurring savings transfers. ATS is a convenient financial tool for budgeting and ensuring timely payments or deposits, as it eliminates the need for manual transfers. Customers can usually customize the amount and frequency of these transfers based on their needs.
