overdraft


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Related to overdraft: Overdraft Facility

Overdraft

A check that is drawn on an account containing less money than the amount stated on the check.

The term overdraft is also used in reference to the condition that exists when vouchers or purchase orders are drawn in amounts exceeding the amount that has been appropriated or budgeted.

Cross-references

Commercial Paper.

See: deficit

overdraft

see BANK ACCOUNT.
References in periodicals archive ?
With the Indian economy on the upswing, this convenient overdraft facility will enable the MSME companies to expand their business with ease.
86% of accounts that incurred at least one overdraft fee in a given month will incur additional overdraft charges sometime over the next 3 months;
into unarranged overdraft fees found some can potentially cost more than a payday loan.
com, says: "Charges for breaching your overdraft limits have been a scourge for many years.
Cordray said the agency is still in the "pre-rule" stage in its examination of overdraft policies, with no set timetable for when the agency may release proposed regulations.
Santander: "We already have a maximum total monthly overdraft fee cap that applies to all arranged and unarranged overdraft charges, including paid and unpaid transaction fees.
Those in hardship due to bank charges for going beyond overdraft limits may be able to reclaim them.
ASIC was concerned that this conduct breached responsible lending laws and that affected consumers would have been unable to comply, or could only comply with substantial hardship, with their obligation to repay their personal overdraft on demand.
Then, for the remainder, it gives a standard PS250 interest-free overdraft (above PS250, but within your limit, it's 15.
Part II presents background information on overdraft protection programs and the corresponding regulation.
The bank said that it is selling the core overdraft product through all branches.
Overdraft costs can be a major drain on your wallet | Overdraft costs can be a major drain on your wallet D.