A negative account balance caused by withdrawing more money than is available in your account.
The negative balance of an account, when withdrawals exceed deposits or the account feature, which allows writing checks for more than the balance on deposit.
A credit facility granted by a bank which allows the borrower to draw funds from the bank up to a prescribed limit as and when the borrower wishes.
an account with a negative balance.
Borrowing from a bank by arranging to overdraw (borrow) from a current account. Usually requires security. Theoretically repayable on demand. See Bank overdraft
an arrangement by which a customer can withdraw more from an account than has been deposited in it, up to an agreed limit; interest on the debt is calculated daily.
Debt owed by a check writer resulting from a checking account being overdrawn.
A loan facility on a customer¡¯s current account at a bank permitting him to overdraw up to a certain agreed limit for an agreed period.
A negative balance in an account caused by the amounts of checks or withdrawals being posted to the account that exceed the balance.
To remove more water than is replenished. See groundwater mining.
The amount by which a check or other payments exceeds the funds on deposits.
An overdraft is an agreed amount by which your bank account can be overdrawn. Generally you will be charged a set fee for the provision of an overdraft facility. This fee is often calculated as a fairly high percentage of the total value of the overdraft.
The word overdraft means the act of overdrawing from a Bank account. In other words, the account holder withdraws more money from a Bank Account than has been deposited in it
Through your current account, you owe money to your bank.
A check written for more money than is currently in the account. If the bank refuses to cash the check, it is said to have "bounced."
a credit facility on your Personal Bank Account Plus that allows you to access funds to an agreed limit above your actual balance
a line of credit attached to a cheque account which allows business to operate on a day-to-day basis
an agreed sum by which a customer can overdraw their current account
a short-term borrowing facility offered on a Current Account to assist customers
a short-term borrowing facility offered on your current account to assist you in dealing with unforeseen expenses
a short term loan that a bank makes to a business
The option to have your checking account associated with another savings account of line of credit that allows a person to write checks for more than the actual balance in the account by automatically transferring funds to cover the item. A fee is often associated with when this service is used.
The credit balance of a bank account. Banks often provide limits which cannot be exceeded.
The pumping of water from a groundwater basin in excess of the supply coming into the basin. Such pumping results in continuing depletion of the groundwater and a lowering of the water table. overlying right The name of a ground-water right in a riparian rights state where the surface owner also owns the underlying water in fee simple.
A prearranged limit to which a person can continue to draw funds once the account balance has reached $0.
A check written for more money than is currently in the account. The check is said to have "bounced" if the bank refuses to cash the check.
Removal of groundwater by pumps and wells more rapidly than it is naturally replenished; groundwater “mining”.
that quantity of water pumped in excess of the available supply; the act of overdrawing a water supply or aquifer in amounts greater than replenishment. Also, the sustained extraction of groundwater from an aquifer at a rate greater than the recharge rate of the aquifer, resulting in a drop in the level of the water table.
A line of creditm contractually repayable on demand unless a fixed term has been agreed, established through a customer's current account
When the amount of a paid check or other withdrawal exceeds the available balance in a checking account. Back to the top
A check written without sufficient money in an account to cover it
When a depositor draws a check for more than the balance on deposit, he is said to be overdrawn. The Bank can either return the check to the institution from which it came or to the person who presented it for payment marked "Insufficient Funds", or elect to render the customer a service and pay the check. When the institution pays the check, it creates an overdraft in the depositor's account. The account ceases to become a deposit liability and becomes an asset since it is, in effect, a loan to the depositor. Overdrawn checks are accordingly charged service charges.
An agreement whereby the bank permits a customer to temporarily withdraw more money than is held in the account against payment of interest; this is a form of borrowing. A common feature of current accounts.
An arrangement whereby the bank allows a customer to withdraw more funds from a current account than have been deposited. It is a form of lending.
A limit set that allows a person to exceed an account balance.
a banking term to designate that there are insufficient funds to cover a check that has been written
See: groundwater overdraft.
Withdrawals of ground water at rates perceived to be excessive. See also Groundwater mining.
The pumping of water from a groundwater basin or aquifer in excess of the supply flowing into the basin: This pumping results in a depletion or "mining" of the groundwater in the basin.
A short-term loan from a bank, when you spend more money out of your bank account than you have in it. Overdrafts are expensive and have to be re-paid whenever the bank demands the money back. It is best to avoid them.
A draft or check written for an amount that exceeds the funds in the account on which the check is drawn.... read full article
The act of overdrawing a bank account. This means that the account holder wrote a cheque or withdrew funds greater than the available balance in his or her bank account. Also known as insufficient funds.
A condition wherein the total annual production from the basin exceeds the natural safe yield thereof.
The reduction of ground water storage that occurs when withdrawals from an aquifer exceed recharge. Sometimes referred to as mining of ground water.
A draft or check written for an amount that exceeds the balance in a customer's account.
Banks will often allow you to overdraw your current account. If you have arranged for an overdraft facility on your account you will be charged an authorised overdraft rate - the rate of interest that you will pay on your overdrawn balance if you remain within your authorised limit. If you have not arranged an overdraft facility or exceed your authorised limit you will be charged interest at the unauthorised overdraft rate.
When you owe money to your bank through your current account
When the amount of a paid check or other withdrawal exceeds the available balance in a checking account. See NSF and overdraft protection.
An arrangement made between you and your bank that allows you to withdraw more than the amount of money in your account. You won't have to pay any charges other than interest so long as you stay within your limit. Handy if you've had a busy month of spending and you still have a week to go before getting paid.
A facility to be in debt with your bank in your current account. Interest is usually charged on any money owing.
condition that occurs in a groundwater basin when pumping exceeds the amount of replenishment over a period of years
The average yearly amount of water removed from an underground basin which exceeds the amount replenished, occurring over the long term.
A credit facility offered by financial institutions that allows you to withdraw more than the balance of your own funds in your account.
The amount that is actually withdrawn in excess of the funds on a current account.
An amount paid out by a bank to cover cheques and withdrawals that exceed the balance of funds available in a deposit account.
When the amount of a paid cheque or other withdrawal exceeds the available balance in a chequing account (can result in fees).
If you spend more money than you have in your current account you will go overdrawn. You can ask the bank if they can arrange to lend you some money for a short time. This is known as an arranged overdraft. You pay an agreed rate of interest on the overdraft. If you go overdrawn without asking the bank in advance, they might refuse to pay your cheques and charge you a high interest rate on the money that you owe them.
The amount by which checks, drafts, or other demands for payment on the treasury or on a bank exceed the amount of the credit against which they are drawn.
Extension of a credit line which thereby allows the borrower to access his or her account for an amount exceeding the available balance.
The facility to borrow funds from a bank through writing cheques on a cheque account for more than has been deposited into it.
In banking terms, drawing out more money from an account than there are available funds.
An authorized check written for an amount that exceeds the balance in a customer's account.
The limit to which a person can exceed an account balance
The amount by which a cheque or other payment orders exceeds the funds on deposit.
A predetermined credit limit from a bank.
When a person or business borrows from their bank and is allowed to take out more money than they have in their account. If the overdraft is not agreed prior to taking out money not in your account you are likely to be subject to charges.
condition where the amount of water withdrawn from a groundwater basin exceeds the amount of replenishment over a period of years.
a shortfall in a bank account caused by taking out more money than you had in the account; financial institutions will allow good customers to have overdrafts for a short time, but they charge fees and interest for the service
A circumstance where expenditures and/or encumbrance exceed the amount of funds appropriated in a particular account/fund/sub-budget.
A prearranged limit to which a person can exceed the account balance. Usually used for business purposes.
a limit placed on a customer's account by a bank. The bank will advance funds up to this limit. Overdrafts are usually granted to finance a customer's short-term requirements
borrowings from your current account.
A technique whereby a bank’s client is allowed to overdraw his account, i.e. withdraw funds exceeding his credit balance. The bank gives its client a general credit facility, by which the client, through an overdraft, extends himself a short-term loan, without needing a formal loan agreement. The advantage for the client is that he will pay for only as much as he has borrowed. Français: Découvert Español: Descubierto
A facility that can be made available to current account holders that enables them to spend up to a specified amount above their account balance. Interest may be charged if this loan facility is used.
When an account goes below zero - there is not enough money to cover the withdrawal.
A checking account allowing a person to write checks for more than the actual balance in an account.
A short-term credit granted by a bank to a client when the amount of an operation carried out using a payment card exceeds the balance of the card account of such client or the established limit of lending.
When the amount of money withdrawn from a bank account is greater than the amount actually available in the account the excess is known as an 'overdraft' and the account is said to be 'overdrawn'. If agreed in advance by the bank this is essentially a form of loan facility. If not agreed in advance by the bank penal charges may be incurred.
When the amount of a check exceeds the available balance. Overdraft protection allows business owners to write checks for more than the account balance without the checks being returned. This service must be approved by the bank.
The amount that a check exceeds the available balance in the payor's account; also insufficient funds.
An overdraft occurs when withdrawals from a bank account exceed the available balance; i.e. over-drawings. This gives the account a negative balance and in effect means the account provider is offering credit.