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Define
Definitions for
"Overdrafts"
Keywords:
overdraw
,
cheque
,
honoring
,
draft
,
bank
A draft or check written for an amount that exceeds the balance in a customer's account. This creates a negative balance, and banks charge a fee for honoring these checks.
butler.edu
A secured loan whereby the consumer borrows from the bank by arranging to overdraw on his/her cheque account.
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