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Automatic transfer service
AUTOMATIC TRANSFER SERVICE

Definition: Banking procedure permitting commercial banks to pay interest on checking accounts.
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* All five elements should be in.


1. Purposeful and necessary to have procedure in place.

2. Rate will be negotiable. That is, percentage cannot be the same in all the commercial banks where permission applies.

3. The payment will be made promptly, timely to the account holders.

4. The amounts or sums will be considered, by the account holders as enough or substantial at the right of being credited.

5. Procedure achieves objective(s) or serves purpose(s).
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See perfect AUTOMATED TELLER MACHINE.

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