overdraft Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “overdraft” in the English Dictionary

"overdraft" in British English

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overdraftnoun [C]

uk   /ˈəʊ.və.drɑːft/  us   /ˈoʊ.vɚ.dræft/
C1 an ​amount of ​money that a ​customer with a ​bankaccount is ​temporarilyallowed to ​owe to the ​bank, or the ​agreement that ​allows this: to run up/​pay off an overdraftUK The ​bankoffers overdraft facilities.
(Definition of overdraft from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"overdraft" in Business English

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overdraftnoun [C]

uk   /ˈəʊvədrɑːft/  us   /ˈəʊvərˌdræft/ (also bank overdraft)
BANKING an ​amount of ​money that a ​customer with a ​bankaccount is temporarily ​allowed to ​owe to the ​bank, or the ​agreement which ​allows this: run up/have an overdraft Research ​shows that 58% of ​students have an overdraft. I paid off my overdraft as soon as I got my ​paycheque. We have an overdraft ​facility of £500 with our ​bank. an overdraft ​fee/​rate/​charge a free/interest-free overdraft
(Definition of overdraft from the Cambridge Business English Dictionary © Cambridge University Press)
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