noun
- plural of overdraft; amounts by which withdrawals from a bank account exceed the available balance
Usage: banking term
Examples
- The bank charged fees for three overdrafts last month.
- Small overdrafts can quickly accumulate expensive penalties.
- She avoided overdrafts by carefully monitoring her account balance.
- The credit union offers protection against accidental overdrafts.
- Multiple overdrafts damaged his credit rating.
- Banks must notify customers about overdrafts within certain timeframes.