Automatic transfer service

Also found in: Medical, Acronyms, Encyclopedia.

Automatic transfer service (ATS) account

A depositor's saving account from which funds may be transferred automatically to the same depositor's checking account to cover a check written or to maintain a minimum balance.

Automatic Transfer Service

A service at a bank in which funds transfer from an account holder's savings account to his/her checking account when he/she makes a withdrawal that would otherwise result in an overdraft. For example, if there is $450 in one's checking account and one writes a check for $500, an automatic transfer service would transfer $50 to the checking from the savings account to cover the check.
Full browser ?