Automatic funds transfer

(redirected from Automatic Funds Transfers)

Automatic funds transfer

A transfer of funds from one account or investment vehicle to another using electronic or telecommunications technology.

Automatic Funds Transfer

A transaction in which a person moves money from one of her accounts to another over the Internet, telephone, or other electronic service. Automatic funds transfers are a convenient way to move money easily and conduct different transactions. There may or may not be a fee assessed to conduct an automatic funds transfer. See also: Direct deposit.
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Upgrading features such as online bill pay, automatic funds transfers for investing, and enhanced reporting for employers provides increased flexibility for accountholders and clients.
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