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Automatic Transfer Service Account |
Also found in: Wikipedia | 0.01 sec. |
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Automatic Transfer Service Account A savings account at a bank that is structured in such a way that funds transfer into the same account holder's checking account when the holder makes a withdrawal that would otherwise result in an overdraft. That is, if there is $450 in one's checking account and one writes a check for $500, an ATS account would transfer $50 to the checking from the savings account to cover the check. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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