Definitions for overdraftˈoʊ vərˌdræft, -ˌdrɑft
This page provides all possible meanings and translations of the word overdraft
a draft in excess of the credit balance
The act of overdrawing a bank account.
The amount overdrawn.
I have an overdraft of u00A31234.
Origin: * over- + draft
An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn". If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate. If the negative balance exceeds the agreed terms, then additional fees may be charged and higher interest rates may apply.
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