Meaning of “overdraw” in the English Dictionary

business-english dictionary

"overdraw" in Business English

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overdrawverb [ I or T ]

uk /ˌəʊvəˈdrɔː/ us overdrew, overdrawn

BANKING to take more money out of a bank account than it contained:

overdraw sth by $20/$200 etc. I overdrew my account by £50.
Penalties are severe if you do overdraw.
overdraw on sth It is not possible for children to overdraw on their accounts.

(Definition of “overdraw” from the Cambridge Business English Dictionary © Cambridge University Press)