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overdraft
[ oh-ver-draft, -drahft ]
noun
- an act or instance of overdrawing a checking account.
- a check overdrawn on a checking account.
- the amount overdrawn.
- an excessive drawing on or drawing off of something.
- a draft made to pass over a fire, as in a furnace.
- a draft passing downward through a kiln.
- Metalworking. a tendency of a rolled piece to curve upward after passing through a stand, occurring when the lower roll is faster than the upper.
overdraft
/ ˈəʊvəˌdrɑːft /
noun
- a draft or withdrawal of money in excess of the credit balance on a bank or building-society cheque account
- the amount of money drawn or withdrawn thus
overdraft
- The amount by which a check exceeds the funds on deposit to cover it.
Word History and Origins
Origin of overdraft1
Example Sentences
Banks could simply decline a charge if a customer lacked the funds, but instead lenders promote “overdraft protection” as a convenience that comes at a cost.
Zions Bank customers also could get charged many overdraft fees for being just a few bucks short, examiners agreed.
The suggested solutions range from targeting overdraft fee abuse to data use reform to public banking to improved education on the current financial system—and everything in between.
Situations like this often result in crippling overdraft fees that turn swaths away from formal banking altogether.
Chime provides banking services through a mobile app including no-fee accounts, debit cards, paycheck advances, and no overdraft fees.
Those overdraft fees could be absolutely disastrous for poor people who didn't keep their balances straight.
He owes creditors £32,575 and public accounts state: “The bank overdraft is secured by a member of the director's family.”
He suggested that the sum in question was related to making good an overdraft at JPMorgan in London.
The queen mother was said to have died with an overdraft at Coutts of more than £2 million; it was settled by her daughter.
So far, just being me has taken me to a 250-square-foot apartment and the overdraft protection black list.
The poor man has none of these, and therefore cannot obtain that overdraft which is one of the first essentials of bankruptcy.
But don't pretend that you have a thousand dollars in bank when you hold in your hands the statement of your overdraft.
It was the first relief from his misery the poor man had felt since he had read the letter about the overdraft in the morning.
If Overholt would kindly sign a note at sixty days for the overdraft it would be all right.
"All you have to do is to affix a half dozen ciphers to the remainder before you start the overdraft," said Jack.
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