Question

bank overdraft account in brief

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Answer 1

Answer:

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn".

Explanation:

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Answer 2

Answer:

An overdraft lets you borrow money through your current account by taking out more money than you have in the account. There's usually a charge for this. You can ask your bank for an overdraft – or they might just give you one – but don't forget that an overdraft is a type of loans

Overdraft is a financial instrument in which the money can still be withdrawn from the current or savings account, even if the account balance goes below zero. It is a type of extension of monetary limit offered by banks and that money is said to be 'overdrawn'.