Automatic Transfer Service - ATS

  

Categories: Banking, Regulations

This is overdraft protection. It represents a deposit account that allows the transfer of funds from the savings to the checking. This covers a check or allows you to maintain a minimum balance.

Fundamentally, this combines your checking and savings during times of troubles. Try not to drain that bank account!!! That's why we keep our savings at a different bank...

Related or Semi-related Video

Finance: What Does it Mean to Churn an A...12 Views

00:00

Finance allah shmoop What does it mean to churn an

00:05

account All right Well back in colonial times before america

00:10

was the good old u s a You know what

00:12

That i po and seventeen seventy six colonists would churn

00:16

cream into butter back then churning involved moving a plunger

00:20

in a wood bucket over and over and over again

00:23

Really good for the traps and lattes there Not exciting

00:26

but well that's What happens when there's No better technology

00:29

today churning is something illegal that stock brokers dio and

00:34

remember normally brokers pay their own rent by getting paid

00:38

a commission off of each trade they do for customers

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So churning in the financial sense here means that stockbrokers

00:45

are making tons of trades they really don't need to

00:48

be making in a client's account in order to generate

00:52

mohr commission for themselves they're churning the account to generate

00:56

dough for themselves Illegal very bad And sometimes it can

01:01

be difficult to detect or stop You know think about

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little old ladies not really paying attention to our account

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or ah cardiologists who really has no idea how wall

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street works They have no idea of the brokers churning

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Or not Well if you fall prey to a broker

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who's involved in churning you'll end up overpaying them in

01:17

commissions And you might even have to pay extra taxes

01:20

because they realized gains from all those trades they didn't

01:23

need to make But if that brokered does get caught 00:01:26.979 --> [endTime] yeah he's toast

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