Question

To whom overdraft may be sanctioned?

Answer 1

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Overdraft.........✒

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.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". If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate. If the negative balance exceeds the agreed terms, then additional fees may be charged and higher interest rates may apply.

_________•●°☆°●•__________

Answer 2

Answer:

OVERDRAFT

an amount of money that you have spent that is greater than the amount you have in your bank account; an arrangement with your bank that allows you to spend more money than you have

Explanation:

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