overdraft

noun
over·​draft | \ ˈō-vər-ˌdraft How to pronounce overdraft (audio) \

Definition of overdraft

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

Examples of overdraft in a Sentence

Recent Examples on the Web On builds on Dodd Frank’s Reg E which requires banks to get a user’s approval for overdraft fees. Tom Groenfeldt, Forbes, 5 May 2022 Starting this summer, Citibank will eliminate all its overdraft fees. Megan Leonhardt, Fortune, 28 Apr. 2022 Banks make over $15 billion a year in overdraft fees, according to the federal Consumer Financial Protection Bureau. Derick David, Forbes, 15 Apr. 2022 Monthly maintenance fees and overdraft fees should be major considerations when looking at new bank accounts. oregonlive, 8 Apr. 2022 Citi generated $70 million of overdraft and non-sufficient funds revenue through the first nine months of last year, according to the Consumer Financial Protection Bureau. Matt Egan, CNN, 24 Feb. 2022 Prindle says that Power Financial is the only credit union in South Florida and one of few financial institutions in the nation to eliminate overdraft and insufficient funds fees. Ron Hurtibise, sun-sentinel.com, 21 Oct. 2021 After getting burned by overdraft and minimum balance fees at her traditional bank, Robertson signed up with Chime three years ago. Carson Kessler, ProPublica, 6 July 2021 Under California’s landmark 2014 groundwater law, the Sustainable Groundwater Management Act, local agencies in areas where aquifer levels have been dropping are required to implement plans to address their overdraft problems by 2040. Ian James, Los Angeles Times, 1 Apr. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'overdraft.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of overdraft

1812, in the meaning defined at sense 1

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Time Traveler for overdraft

Time Traveler

The first known use of overdraft was in 1812

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Dictionary Entries Near overdraft

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overdraft

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Statistics for overdraft

Last Updated

16 May 2022

Cite this Entry

“Overdraft.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/overdraft. Accessed 17 May. 2022.

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More Definitions for overdraft

overdraft

noun
over·​draft | \ ˈō-vər-ˌdraft How to pronounce overdraft (audio) \

Legal Definition of overdraft

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

More from Merriam-Webster on overdraft

Nglish: Translation of overdraft for Spanish Speakers

Britannica English: Translation of overdraft for Arabic Speakers

Britannica.com: Encyclopedia article about overdraft

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