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overdraft

overdraft

11 4.7
A negative bank balance when you withdraw more money than you have
  • noun
  • /ˈoʊvərdræft/
translation icon : sobregiro
  • The bank notified him of an overdraft when his account balance fell below zero after recent purchases.

Today the world's financed on credit cards and overdrafts and people want to Live Today.

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Examples

  • Looks like your account has exceeded its overdraft balance.

  • If you add additional funds to the account, we can waive the $50 overdraft fee.

  • But if you can live without your overdraft but have it there for an emergency, then that can help.

  • So, what are we gonna do about the overdraft, Harry?

  • And if they made one mistake at their bank that resulted in an overdraft, it would easily be more than that.

  • One Finance has no fee overdraft protection.

  • Your overdraft protection covers your account until the end of the month.

  • Choose a bank that offers free checking for college students with overdraft protection.

    Blog text (29)
  • This will cover the overdraft of $550 that I owe you.

  • Say goodbye to pesky monthly fees and overdraft charges because Chime has none.

Synonyms

negative balance
vsoverdraft
1 4.8

An account amount below zero when you owe money to the bank

is the specific excess withdrawal that creates that owed amount

Antonyms

Money that a bank or company owes you in your account

Compounds

4.7

Money a bank lets you use when a check makes your account go below zero

overdraft credit
  • Specialized
4.1

A bank service that lets you withdraw money when your account does not have enough money

How Flexible

open-end credit
  • Specialized
6.2
overdraft
11 4.7
installment credit
  • Specialized
4.4

Surface Forms

overdraft singular
overdrafts plural

Morphology

overdraft = draft (semi-transparent) = over + draft

The components 'over' (excess) + 'draft' are visible, but the banking sense of 'draft' is specialized, so learners may not infer the exact financial meaning.

Etymology

Overdraft comes from over ('too much' or 'beyond') and draft ('to draw' or 'take'), like drawing water from a bucket and taking more than is there. So an overdraft is when you take more money from your bank account than you have, leaving your balance below zero.