Automatic Transfer Service Account(redirected from Automatic Transfer Service Accounts)
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.
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