overdraft

[oh-ver-draft, -drahft]

noun

1. an act or instance of overdrawing a checking account.

2. a check overdrawn on a checking account.

3. the amount overdrawn.

4. an excessive drawing on or drawing off of something.

5. a draft made to pass over a fire, as in a furnace.

6. a draft passing downward through a kiln.

7. Metalworking.,  a tendency of a rolled piece to curve upward after passing through a stand, occurring when the lower roll is faster than the upper.

overdraft

/ ˈəʊvəˌdrɑːft /

noun

1. a draft or withdrawal of money in excess of the credit balance on a bank or building-society cheque account

2. the amount of money drawn or withdrawn thus

overdraft

1. The amount by which a check exceeds the funds on deposit to cover it.

Word History and Origins

Origin of overdraft¹

First recorded in 1875–80; over- + draft

Example Sentences

Firms had gone to their own lenders and had been able to extend their overdraft facilities, she said.

From BBC

It will also see the company provided with a £30m overdraft facility and have some of its rents reduced.

From BBC

Overnight, my routine of instant oatmeal dinners and dodging overdraft fees turned into grocery lists, school pickups and conversations I never expected to have so soon.

From Salon

However, in the wake of the crash, the rates on Martin's overdraft surged to 16%.

From BBC

The 41-year-old, who works part-time in Asda, is using emergency credit on her energy meter and regularly dips into her overdraft.

From BBC

Related Words

• default 
• disaster 
• failure 
• insolvency 
• liquidation 
• loss