The automatic transfer of a specified amount of money from one account to another based on a schedule that you set up. For example, you may want to set up a repeating transfer schedule to automatically transfer $500 from your checking account to your money market account at the end of each month. You need to make three decisions that determine the frequency and duration of the transfers:
When do you want to schedule the first transfer?
How often do you want to transfer the money?
When do you want to stop scheduling the transfers?
When you set up a transfer schedule, the transfers are automatically scheduled for the duration you choose or until you cancel the repeating transfer.