the amount overdrawn.
an excessive drawing on or drawing off of something.
a draft made to pass over a fire, as in a furnace.
a draft passing downward through a kiln.
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.
- Compare underdraft.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
How to use overdraft in a sentence
Banks could simply decline a charge if a customer lacked the funds, but instead lenders promote “overdraft protection” as a convenience that comes at a cost.JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It. | by Patrick Rucker, The Capitol Forum | December 14, 2020 | ProPublica
Zions Bank customers also could get charged many overdraft fees for being just a few bucks short, examiners agreed.JPMorgan Chase Bank Wrongly Charged 170,000 Customers Overdraft Fees. Federal Regulators Refused to Penalize It. | by Patrick Rucker, The Capitol Forum | December 14, 2020 | ProPublica
The suggested solutions range from targeting overdraft fee abuse to data use reform to public banking to improved education on the current financial system—and everything in between.
Situations like this often result in crippling overdraft fees that turn swaths away from formal banking altogether.
Chime provides banking services through a mobile app including no-fee accounts, debit cards, paycheck advances, and no overdraft fees.
Those overdraft fees could be absolutely disastrous for poor people who didn't keep their balances straight.Did Financial Services Reform Inadvertently Put a Kink In Obamacare? | Megan McArdle | May 23, 2013 | THE DAILY BEAST
He owes creditors £32,575 and public accounts state: “The bank overdraft is secured by a member of the director's family.”
He suggested that the sum in question was related to making good an overdraft at JPMorgan in London.Jon Corzine Can’t Answer $1.2 Billion Question About MF Global at Hearing | Michael Daly | December 16, 2011 | THE DAILY BEAST
The queen mother was said to have died with an overdraft at Coutts of more than £2 million; it was settled by her daughter.
So far, just being me has taken me to a 250-square-foot apartment and the overdraft protection black list.
The poor man has none of these, and therefore cannot obtain that overdraft which is one of the first essentials of bankruptcy.The Law and the Poor | Edward Abbott Parry
But don't pretend that you have a thousand dollars in bank when you hold in your hands the statement of your overdraft.The Young Man and the World | Albert J. Beveridge
It was the first relief from his misery the poor man had felt since he had read the letter about the overdraft in the morning.The Little City Of Hope | F. Marion Crawford
If Overholt would kindly sign a note at sixty days for the overdraft it would be all right.The Little City Of Hope | F. Marion Crawford
"All you have to do is to affix a half dozen ciphers to the remainder before you start the overdraft," said Jack.Jack and the Check Book | John Kendrick Bangs
British Dictionary definitions for overdraft
a draft or withdrawal of money in excess of the credit balance on a bank or building-society cheque account
the amount of money drawn or withdrawn thus
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for overdraft
The amount by which a check exceeds the funds on deposit to cover it.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.