overdraft checking account

overdraft checking account definition - business

overdraft checking account

A checking account coupled with a line of credit such that the account holder can write checks for more than the balance in the account without the checks bouncing. Overdrafts are generally subject to a fee, but will save the account holder a merchant's returned-check fee.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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