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English definition of “overdraft”

overdraft

noun [C] uk   /ˈəʊ.və.drɑːft/ us    /ˈoʊ.vɚ.dræft/
C1 an amount of money that a customer with a bank account is temporarily allowed to owe to the bank, or the agreement that allows this: to run up/pay off an overdraft The bank offers overdraft facilities.
(Definition of overdraft from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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