- a withdrawal of money from a bank in excess of the amount credited to the drawer
- the amount withdrawn in excess
- a draft, or current of air, passed over a fire, as in a furnace, or passing down through a kiln
noun
- An example of an overdraft is to write a check for $40 when you only have $20 in your account.
- An example of an overdraft is the air that passes over the fuel in a furnace.
The definition of an overdraft is taking out more money than is in your account, or a draft of air that moves over a fire.
YourDictionary definition and usage example. Copyright © 2018 by LoveToKnow Corp
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"overdraft." YourDictionary, n.d. Web. 14 January 2019. <https://www.yourdictionary.com/overdraft>.
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overdraft. (n.d.). Retrieved January 14th, 2019, from https://www.yourdictionary.com/overdraft
overdraft
Webster's New World College Dictionary, Fifth Edition Copyright © 2014 by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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"overdraft." YourDictionary, n.d. Web. 14 January 2019. <https://www.yourdictionary.com/overdraft>.
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overdraft. (n.d.). Retrieved January 14th, 2019, from https://www.yourdictionary.com/overdraft
overdraft
noun
- a. The act of overdrawing a bank account.b. Abbr. OD or o/d The amount overdrawn.c. The maximum amount of credit extended to a customer.
- also o·ver·draught a. A current of air made to pass over the ignited fuel in a furnace.b. A series of flues in a brick kiln designed to force air down from the top.c. The air so forced.
THE AMERICAN HERITAGE® DICTIONARY OF THE ENGLISH LANGUAGE, FIFTH EDITION by the Editors of the American Heritage Dictionaries. Copyright © 2016, 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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"overdraft." YourDictionary, n.d. Web. 14 January 2019. <https://www.yourdictionary.com/overdraft>.
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overdraft. (n.d.). Retrieved January 14th, 2019, from https://www.yourdictionary.com/overdraft
Noun
(countable and uncountable, plural overdrafts)
- (uncountable) The act of overdrawing a bank account.
- (countable) The amount overdrawn.
- I have an overdraft of £1234.
- (countable) The maximum amount that may be overdrawn.
- The bank have given me an overdraft of $2000.
Origin
over- +"Ž draft
English Wiktionary. Available under CC-BY-SA license.
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"overdraft." YourDictionary, n.d. Web. 14 January 2019. <https://www.yourdictionary.com/overdraft>.
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overdraft. (n.d.). Retrieved January 14th, 2019, from https://www.yourdictionary.com/overdraft
overdraft - Investment & Finance Definition
Credit issued by a bank if a check is written on an account that does not have sufficient money to cover it and the bank chooses to approve the check. Often banks link a customer’s savings account or credit card to the checking account to cover overdrafts, and an overdraft fee will be charged.
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
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"overdraft." YourDictionary, n.d. Web. 14 January 2019. <https://www.yourdictionary.com/overdraft>.
APA Style
overdraft. (n.d.). Retrieved January 14th, 2019, from https://www.yourdictionary.com/overdraft
Sentence Examples
- Having a line of credit and overdraft protection can help you avoid embarrassment or getting a bad reputation as a company who bounces checks, if you just can't quite get the spending under control.
- Opting out does bring the risk of having a debit card transaction declined in the event of insufficient funds in a checking account; however, it also means the accountholder will not encounter the fees associated with overdraft.
- When you have business overdraft protection, then the money transfers automatically to your bank account to pay a check or to allow you or your employee to use your debit card, even if you have a $0 balance in the bank.
- Unfortunately, many people have reported problems with the First USA bank card that have prevented them from making timely payments, thus lowing their credit score, or resulting in overdraft fees that must be paid.
- You may even end up spending more than you have, which means you get the dreaded "Your card has been declined" spiel or if you happen to have savings, you see it decline every month due to overdraft charges.
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