Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun The act of overdrawing a bank account.
- noun The amount overdrawn.
- noun The maximum amount of credit extended to a customer.
- noun A current of air made to pass over the ignited fuel in a furnace.
- noun A series of flues in a brick kiln designed to force air down from the top.
- noun The air so forced.
from The Century Dictionary.
- noun The act of overdrawing one's account, especially one's bank-account.
- noun In furnaces of steam-boilers, and generally in domestic furnaces and stoves, a draft of air admitted over, and not passing through, the ignited fuel.
- noun In kilns for bricks and tiles, a form of construction whereby the kiln is heated from the top toward the bottom.
- noun The amount by which a draft exceeds the sum against which it is drawn; a draft against a balance greater than the balance itself.
from the GNU version of the Collaborative International Dictionary of English.
- noun (Banking) The act of overdrawing; a draft in excess of the credit balance; also, the amount or sum overdrawn.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun uncountable The act of
overdrawing abank account . - noun countable The
amount overdrawn . - noun countable The
maximum amount that may be overdrawn.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun a draft in excess of the credit balance
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
Support
Help support Wordnik (and make this page ad-free) by adopting the word overdraft.
Examples
-
Despite the fact that they've had checking accounts all their lives (and presumably know what they're doing), each year older Americans pay 4.5 billion dollars in overdraft fees -- and on average they actually pay more in fees than they receive in credit when the overdraft is triggered by a debit card transaction.
Overdraft Fees Are Trapping Consumers On Social Security In A Cycle Of Debt - The Consumerist 2008
-
Most banks and credit unions automatically sign customers up for what they call overdraft "protection," that allows -- rather than blocks -- purchases and ATM withdrawals that overdraw their bank accounts.
-
But a new report from the Center for Responsible Lending says banks are taking advantage of their customers by automatically enrolling card users in what they call overdraft protection programs.
-
Meanwhile, the Federal Reserve is examining the fairness of certain overdraft practices.
-
A merchant mistakenly put a hold on his funds, then the bank cleared transactions from high to low, triggering hundreds in overdraft fees, he says.
-
U.S. banks will collect a record $38.5 billion in overdraft fees this year, with nearly all the revenue paid by just 10% of customers, according to a research report released Monday.
-
When I checked my balance I found that my bank hit me for $175 in overdraft fees.
Coyote Blog » Blog Archive » Pigovian Tax on Carelessness 2009
-
Tam Tran, 36, of Columbia, Md., has paid BofA more than $5,000 in overdraft fees in the past year.
Anger at bank overdraft fees gets hotter, bigger and louder 2009
-
The Federal Reserve on Thursday released a new rule to prohibit banks from automatically enrolling customers in overdraft protection programs, which charge fees when consumers spend more than they have.
-
Davis of Strunk & Associates says courtesy overdraft is a "value (consumers) are very willing to pay for."
Comments
Log in or sign up to get involved in the conversation. It's quick and easy.