Definition of overdraft noun from the Oxford Advanced American Dictionary

 

overdraft

 noun
noun
NAmE//ˈoʊvərˌdræft//
 
 
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the amount of money that you owe to a bank when you have spent more money than is in your bank account; an arrangement that allows you to do this to run up/pay off an overdraft I had to arrange an overdraft to pay for the car. The savings account has no overdraft facility.
See the Oxford Advanced Learner's Dictionary entry: overdraft