Definition of overdraft in English:



  • A deficit in a bank account caused by drawing more money than the account holds.

    ‘when I left Cambridge I had a £900 overdraft’
    as modifier ‘customers will be given a guaranteed overdraft facility’
    • ‘But even so, much of a student's debt comes from bank overdrafts and credit cards and who could resist an easy-peasy way of getting shot of those?’
    • ‘Experience shows that it is important to include all bank loans, overdrafts and credit cards into any reduced payment scheme.’
    • ‘If you have debts, whether they are bank overdrafts, personal loans or unpaid credit card bills then start by itemising all those outstanding loans.’
    • ‘Can I link a savings account to a checking account to cover overdrafts and, if so, what is the monthly charge?’
    • ‘Do not include the payments you are supposed to make on any unsecured credit such as personal loans, overdrafts and credit cards at this stage.’
    • ‘It's possible to save a tidy fortune by switching loans, overdrafts, credit and store card balances to 0% cards.’
    • ‘Interest rates on credit cards, overdrafts and personal loans are usually multiples of what you receive for savings on deposit.’
    • ‘Apparently, all of them are now steadily nibbling away at their overdrafts and credit card debts and supporting each other while doing it.’
    • ‘Credit cards, store credit, overdrafts - even personal loans - are all expensive ways to borrow.’
    • ‘Credit cards, overdrafts and personal loans are unspeakably expensive!’
    • ‘Historically, granting bank officials overdrafts was viewed as promoting poor financial habits and setting a bad example to customers.’
    • ‘Crucially, you will both be individually and jointly responsible for any overdrafts or debt on the joint account.’
    • ‘What's more, as well as interest on approved overdrafts, banks usually levy ongoing arrangement and review fees for larger overdraft limits.’
    • ‘Presumably, those unable to survive would need to take out a loan or use credit cards and overdrafts to pay living expenses until they could get back on their feet.’
    • ‘Such products include personal loans, credit cards and overdrafts.’
    • ‘Some issuers even allow you to transfer other expensive debts, such as overdrafts and loans, to a zero-interest deal.’
    • ‘So you need to clear away overdrafts, credit card balances and any personal loans.’
    • ‘If you get an overdraft from a bank, terms and conditions, as they say, apply.’
    • ‘If you count your overdraft, credit card or loan as disposable income, you're wrong.’
    • ‘We'd all be miles better off if we could steer clear of expensive debts, such as overdrafts, credit cards, store credit, personal loans and so on.’
    credit, advance