What is ATF payment?

Automatic transfer of funds is a convenient way to manage finances by moving money between accounts without manual intervention. This process can be set up to occur on a regular schedule or based on specific triggers.

One common use of automatic transfers is to ensure that bills are paid on time. By setting up a recurring transfer, individuals can ensure that their utility payments, mortgage, or rent are covered without forgetting.

Another benefit of automatic transfers is to save money. For example, individuals can set up a weekly transfer from their checking account to their savings account to build an emergency fund.

To set up an automatic transfer, individuals typically need to log into their online banking account. From there, they can navigate to the transfer section and select the option for automatic transfers.

During the setup process, individuals will be prompted to enter details such as the amount to be transferred, the frequency of the transfers, and the accounts involved. They will also have the option to set up notifications to receive alerts when a transfer has been made.