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overdraft

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noun over·draft \ˈō-vər-ˌdraft\

Simple Definition of overdraft

  • : an amount of money that is spent by someone using a bank account that is more than the amount available in the account : an amount that is overdrawn from an account

Source: Merriam-Webster's Learner's Dictionary

Full Definition of overdraft

  1. 1 :  an act of overdrawing at a bank :  the state of being overdrawn; also :  the sum overdrawn

  2. 2 :  line of credit

1845

First Known Use of overdraft

1845


Law Dictionary

overdraft

play
noun over·draft \ˈō-vər-ˌdraft\

Legal Definition of overdraft

  1. 1 :  the act or result of drawing on a bank account for more than the balance; also :  the amount exceeding the balance in an overdraft

  2. 2 :  a loan or credit extended on a current account especially to established or institutional customers





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