overdraft

American  

[oh-ver-draft, -drahft] / ˈoʊ vərˌdræft, -ˌdrɑft /

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.

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overdraft British  

/ 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 the amount of money drawn or withdrawn thus

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overdraft Cultural  

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

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Etymology

Origin of overdraft

First recorded in 1875–80; over- + draft

Example Sentences

The irregularity of student finance payments made it difficult to budget, which Denby said often caused her to rely on an overdraft alongside income from a part-time job.

From BBC

Another realm where the U.S. has been in a league of its own, though, is its ability to run large overdrafts during geopolitical or economic crises.

From The Wall Street Journal

The approval allows Revolut to offer protected deposit accounts, loans, and overdrafts to its 13 million U.K. customers.

From The Wall Street Journal

It also found that heavy users paid an average of $421 in fees — including overdraft fees to their bank account — during their first year using these apps.

From MarketWatch

Not all banks tell a customer in advance that their credit limit is being cut unless it leads to an overdraft fee or some other fees associated with the credit card.

From MarketWatch

Related Words

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