overdraft

[ oh-ver-draft, -drahft ]

noun

1. an act or instance of overdrawing a checking account.
2. a check overdrawn on a checking account.
3. the amount overdrawn.
4. an excessive drawing on or drawing off of something.
5. a draft made to pass over a fire, as in a furnace.
6. a draft passing downward through a kiln.
7. 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

1. a draft or withdrawal of money in excess of the credit balance on a bank or building-society cheque account
2. the amount of money drawn or withdrawn thus

overdraft

1. The amount by which a check exceeds the funds on deposit to cover it.

Word History and Origins

Origin of overdraft¹

First recorded in 1875–80; over- + draft

Example Sentences

The financial app Dave promises its customers freedom from expensive bank overdrafts.

From Los Angeles Times

They are being asked to return the money with interest, pay related overdraft fees and cover legal expenses as well as other costs suffered by the bank.

From BBC

State residents had significantly more overdrafts from their checking accounts in the three months after using these services than before using them, the center said.

From Los Angeles Times

However, becoming a bank means it will be able to extend credit to customers via credit cards, overdrafts and mortgages.

From BBC

Achieving sustainability goals in groundwater basins deemed to be in “critical overdraft” will be particularly challenging and is expected to require allocation and pumping restrictions that will sharply reduce agricultural water use.

From Los Angeles Times

Related Words

• default
• disaster
• failure
• insolvency
• liquidation
• loss