Definitions for overdraft
ˈoʊ vərˌdræft, -ˌdrɑftover·draft

Princeton's WordNetRate this definition:0.0 / 0 votes

1. overdraftnoun

   a draft in excess of the credit balance

WiktionaryRate this definition:0.0 / 0 votes

1. overdraftnoun

   The act of overdrawing a bank account.

2. overdraftnoun

   The amount overdrawn.

   I have an overdraft of u00A31234.

3. Etymology: * over- + draft

WikipediaRate this definition:0.0 / 0 votes

1. Overdraft

   An overdraft occurs when something is withdrawn in excess of what is in a current account. For financial systems, this can be funds in a bank account. For water resources, it can be groundwater in an aquifer. In these situations the account is said to be "overdrawn". In the economic system, 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.

WikidataRate this definition:0.0 / 0 votes

1. Overdraft

   An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.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.

Matched Categories

1. • Draft

How to pronounce overdraft?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say overdraft in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of overdraft in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of overdraft in Pythagorean Numerology is: 1

Examples of overdraft in a Sentence

1. The CFPB:

   Rather than competing on quality service and attractive interest rates, many banks have become hooked on overdraft fees to feed their profit model, we will be taking action to restore meaningful competition to this market.

2. Elizabeth Seymour:

   We eliminated the non-sufficient funds fee and significantly increased the amount a customer can overdraw before overdraft fees are charged, these changes reflect our continuous efforts to offer the best, most competitive products and services our customers want.

3. Alex Horowitz:

   Overdraft fees drive customers out of the banking system. That's bad for consumers — but it's also bad for banks.

4. Alex Horowitz:

   Overdraft fees have been damaging to consumers for a long time.

Popularity rank by frequency of use

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=overdraft
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Overdraft
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Overdraft
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=overdraft