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Longman Dictionary of Contemporary English
▪ Not for him the promise of jam tomorrow or a brave, new world waiting just around the next bank overdraft.
▪ Transfers made to pay the players wages and stem a bank overdraft.
▪ There are four main methods of funding: cash purchase, bank overdraft, hire purchase and leasing.
▪ Using a bank overdraft, would incur an interest cost, with tax capital allowances being available as above.
▪ Because they had squandered all their cash, they each had bank overdrafts of around £1,500.
▪ We also provide interest free overdraft facilities in the first year of study.
▪ As the overdraft facility is used, however, two things begin to happen simultaneously.
▪ The company had agreed an overdraft facility with the bank that by December 1986 had been raised to £40,000.
▪ When the overdraft facility is fully used, the composition of assets will have changed.
▪ Mr. Tucker agreed to allow an overdraft facility of £60,000 for one month.
▪ You may want a permanent overdraft facility.
▪ But remember that this change in the composition of assets came about because the borrower used his overdraft facility.
▪ We can offer current accounts with overdraft facilities and deposit and loan accounts in any major international currency.
▪ The company had agreed an overdraft facility with the bank that by December 1986 had been raised to £40,000.
▪ If you ask your manager first and he agrees, then an overdraft is a convenient and economic way of borrowing money.
▪ Mr. Tucker agreed to allow an overdraft facility of £60,000 for one month.
▪ A £500 agreed overdraft with NatWest will cost you nearly £92 over a year.
▪ Therefore, an agreed overdraft of £1,000 will cost you £247.11 including fees.
▪ Spend an extra £500 on top of a £500 agreed overdraft and you could end up paying a total of £311.61.
▪ Large corporate customers pay interest on overdrafts at the bank's base rate plus 1%.
▪ The trustees pay off that overdraft.
▪ They would rather that you paid interest on your overdraft than that they paid interest on theirs. 4.
▪ Must I pay off our joint overdraft?
▪ The crunch came when my bank asked for my credit card back and demanded I pay off the overdraft at once.
▪ It's the only certain way to pay off an overdraft which he expects by then to have topped £1,000.
▪ I've already got an enormous overdraft.
▪ When he left college, he had a $3000 overdraft.
▪ An overdraft offered more flexibility but higher cost.
▪ Answer guide: The cash is needed in the business, see overdraft situation, it will need to be left in.
▪ As a result, the groundwater overdraft, instead of being alleviated, has gotten worse.
▪ As one example, the bank would begin charging interest the day a kibbutz incurred an overdraft.
▪ I want to go on farming, but I will have to see if my overdraft can take it.
▪ Imagine now that a customer of an individual bank applies successfully for an overdraft.
▪ Keep within the limit and you will not pay the penalties that come with unauthorised overdrafts.
▪ They had been given borrowing and overdraft facilities.
The Collaborative International Dictionary

Overdraft \O"ver*draft`\, n. (Banking) The act of overdrawing; a draft in excess of the credit balance; also, the amount or sum overdrawn.

Douglas Harper's Etymology Dictionary

1878, in the banking sense, from over- + draft (n.).


n. 1 (context uncountable English) The act of overdrawing a bank account. 2 (context countable English) The amount overdrawn. 3 (context countable English) The maximum amount that may be overdrawn.


n. a draft in excess of the credit balance


[[Image:Overdraft - Punch cartoon - Project Gutenberg eText 16113.png|thumb|"I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I – I withdraw my overdraft!"

Cartoon from Punch Magazine Vol. 152, June 27, 1917]]

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this situation the account is said to be "overdrawn". If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate. If the negative balance exceeds the agreed terms, then additional fees may be charged and higher interest rates may apply.

Usage examples of "overdraft".

Barclay, observing his depression and worming out of the colonel the cause, persuaded General Hendricks to put the overdraft and the second mortgage note into one note for a thousand dollars plus the interest for sixty days until the colonel could make a turn, and after that the colonel was happy again.

I could always raise the overdraft, get some more credit cards and extend our credit with the various store cards that Wendy uses.

PiIasters Bank and found that he had an overdraft of a thousand pounds.

I was asking for a bigger overdraft, trying hard to be nice, but at the same time looking down on me with disdain.

The bank manager even gave them a generous overdraft facility on the understanding that money was coming in soon.

Unless he had the checkbook with him and was still writing checks, the overdrafts most likely had come from some of those automatic deductions.

I could tell him was that I had seen them, but Evans had told me he had had to lodge them with the Banca Espagnol as security for a small overdraft he had requested after opening an account with them.

Holly lived in fairly usual fashion at permanent full stretch of their permitted overdraft, juggling the incoming cheques from the owners with the outgoing expenses of fodder, wages, overheads and taxes.

Money was a problem because I'd spent all the dosh I'd got for the car, and I needed my grant to pay off the overdraft I'd built up.

My bank charges a service service fee if my account drops below a certain level, and they go berserk with overdraft charges if I screw up and write a few bad checks, but they don't have anything called a depository charge.

It's the month when the first bank statement arrives after Christmas and bank managers decide to cut off your overdraft.

Morgan -- later backed by McAdoo's Treasury -- paid for Britain's overdraft, the United States became the principal creditor nation.

But I knew from the gossip that business like that, in a London theatre, was covering running costs at best, and the expenses of production were still on the Guvnor's overdraft.

Oh, you'd like that, wouldn't you - for me to turn a small debt into a massive great overdraft!

Playing polo for Elmer would have paid off my overdraft and a few bills and I wanted a suntan to wow the Ballenstein typing pool on the first day.