Automatic funds transfer(redirected from Automatic Transfer of Funds)
Automatic funds transfer
A transfer of funds from one account or investment vehicle to another using electronic or telecommunications technology.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved