Overdraft

usgb/ˈəʊvərdræft/
noun

When you spend more money than you have in your bank account.

He was charged a fee for going into his overdraft.
Visual representation of "overdraft" - When you spend more money than you have in your bank account.

Often appears as...

  • bank overdraft
  • unauthorized overdraft
Definition 1 of 3
Visual representation of "overdraft"
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Negative Balance

An overdraft indicates your account balance is negative; the bank covered the excess.

Illustration for Negative Balance
I accidentally caused a negative balance; now I have an overdraft to settle.
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Additional Fees

Banks often charge fees for overdrafts, which can increase the amount you owe.

Illustration for Additional Fees
Due to my overdraft, the bank added a $35 fee to my account.
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Accidental Overdraft

Sometimes overdrafts happen by accident, if you're unaware of your account balance.

Illustration for Accidental Overdraft
I bought coffee and accidentally went into overdraft because I thought I had more money.
Visual representation of the word "Overdraft"

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