Accountancy, asked by Melvin47, 11 months ago

what is bank over draft​

Answers

Answered by Anonymous
20

Answer:

=> An overdraft is an extension of credit from a lending institution that is granted when an account reaches zero. The overdraft allows the account holder to continue withdrawing money even when the account has no funds in it or has insufficient fund.

Answered by Anonymous
9

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An overdraft occurs when an account balance goes below zero after a transaction and can be viewed as a short-term loan from a financial institution. The most common example is when a company writes a check for more than the amount available in the checking account.

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