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Definition overdraft in British English

overdraft noun

[countable] noun
/ˈəʊvə(r)ˌdrɑːft/
1

an agreement with your bank that allows you to spend money when you have no money left in your account

Example

Hefty fines are payable for those who exceed their overdraft limit.

Synonyms and related words
1.1

the amount of money that someone owes their bank because they have used this agreement

Example

I've got an £80 overdraft at the moment.

Synonyms and related words
Definition overdraft in British English