What does daylight overdraft mean?
Definitions for daylight overdraft
day·light over·draft
This dictionary definitions page includes all the possible meanings, example usage and translations of the word daylight overdraft.
Wiktionary
daylight overdraftnoun
A debit balance in the customer's account that occurs in the course of the banking day and is expected to be repaid by a credit to the account prior to the end of the banking day.
Wikipedia
Daylight overdraft
A daylight overdraft (also called intraday overdraft) occurs where a bank account is allowed to go overdrawn during the day but is brought back into credit by close of business.
Wikidata
Daylight overdraft
Daylight overdraft refers to a scenario in which a debit balance occurs in a customer’s account in the course of the banking day and is expected to be repaid by a credit to the account prior to the end of the banking day. Under most circumstances a daylight overdraft incurred by a customer of bank for an account will not face overdraft fees if the balance is brought positive by the next business day. An example of a daylight overdraft is making a $100 deposit at an Automated teller machine which allows for instant withdrawal of the first $100 deposited. This atm transaction will post the next day however if you were to transfer the funds from this account to another account using other means the funds would be withdrawn that day and will post your account negative the next day. Another example is the Federal Reserve policy of daylight overdraft when a fee is not imposed on collateralized daylight overdrafts, but a 50 basis points fee is taken on uncollateralized ones.
Numerology
Chaldean Numerology
The numerical value of daylight overdraft in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of daylight overdraft in Pythagorean Numerology is: 6
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"daylight overdraft." Definitions.net. STANDS4 LLC, 2024. Web. 18 Apr. 2024. <https://www.definitions.net/definition/daylight+overdraft>.
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