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Overdraw |
Also found in: Dictionary/thesaurus | 0.02 sec. |
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TO OVERDRAW. To draw bills or cheeks upon an individual, bank or other
corporation, for a greater amount of funds than the party who draws is
entitled to.
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? References in periodicals archive |
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Can I keep overdrawing my bank account and asking my boss to advance me more money? To assist consumers in understanding the financial effect of overdrawing their accounts, the final rule requires institutions that promote the payment of overdrafts in an advertisement to disclose on periodic statements the total dollar amount imposed for overdraft fees and the total dollar amount imposed for returned-item fees, both for the statement period and for the calendar year to date. That includes maintaining balances in your accounts, not overdrawing your checking account and not using uncollected funds. |
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