Question

Give the meaning of overdraft

Answer 1

overdraft

ˈəʊvədrɑːft/

noun

noun: overdraft; plural noun: overdrafts

a deficit in a bank account caused by drawing more money than the account holds.

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Answer 2

Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account customer can write checks or make withdrawals. ... Also called bank overdraft. 2. Balance of a bank account in which funds withdrawn have exceeded funds deposited.