WordValenoun
overdraft
withdrawing more money than an account holds
In more detail
1. (noun) an amount of money that you owe a bank when you have withdrawn more money from your account than you had in it
2. (noun) an arrangement with a bank that allows you to withdraw more money than you have in your account
Examples
- 1. I had to pay a fee because I went into overdraft last month.
- 2. The bank offered me an overdraft of $500 so I could cover unexpected expenses.
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