Automatic transfer is a banking feature that allows funds to be moved between accounts without manual intervention. For example, a customer can set up an automatic transfer from their checking account to their savings account on a specific schedule, such as weekly or monthly. This helps individuals save money consistently and manage their finances more effectively. In addition to personal banking, automatic transfers can also be used for bill payments. Customers can authorize their utility companies or credit card providers to automatically withdraw the due amount from their accounts, ensuring timely payments and reducing the risk of late fees.