_____________________ permits a customer to preauthorize a depository institution to move funds from a savings account to a transaction account in order to cover overdrafts.
A)Automatic transfers (ATS)
B)Sweep account
C)NOW account
D)SNOW account
E)MMDA

Question

Quizplus · Accepted Answer

Automatic transfers (ATS) allow customers to preauthorize their financial institution to transfer funds from their savings account to their transaction account in the event of an overdraft. This helps to avoid potential fees and ensure that payments are covered.

_____________________ Permits a Customer to Preauthorize a Depository Institution to Move