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Definitions from the WebBank OverdraftDescription:A bank overdraft refers to a financial facility provided by a bank to its customers, allowing them to withdraw more money from their account than they have available. It essentially provides short-term access to additional funds, resulting in a negative balance on the account. Examples:Noun - Financial Transaction:He incurred a bank overdraft when his monthly expenses exceeded his available funds. Noun - Facility:The bank offered her a generous overdraft to assist with the purchase of a new car. Verb - Incur an Overdraft:I accidentally overdrafted my account by forgetting about the automatic bill payment. Adjective - Overdrawn:Due to an overdraft situation, his account remained overdrawn for several days. Related Products:Explore related products on Amazon: | ||||
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