Definition of overdraft noun from the Oxford Advanced Learner's Dictionary

 

overdraft

 noun
noun
BrE BrE//ˈəʊvədrɑːft//
 
; NAmE NAmE//ˈoʊvərdræft//
 
Banking
 
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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. Wordfindercredit, debt, deposit, interest, lend, loan, money, mortgage, overdraft, risk CollocationsFinanceIncome earn money/​cash/(informal) a fortune make money/​a fortune/(informal) a killing on the stock market acquire/​inherit/​amass wealth/​a fortune build up funds/​savings get/​receive/​leave (somebody) an inheritance/​a legacy live on a low wage/​a fixed income/​a pension get/​receive/​draw/​collect a pension depend/​be dependent on (British English) benefits/(North American English) welfare/​social securityExpenditure spend money/​your savings/(informal) a fortune on… invest/​put your savings in… throw away/​waste/ (informal) shell out money on… lose your money/​inheritance/​pension use up/ (informal) wipe out all your savings pay (in) cash use/​pay by a credit/​debit card pay by/​make out a/​write somebody a/​accept a (British English) cheque/(US English) check change/​exchange money/​currency/(British English) traveller’s cheques/(US English) traveler’s checks give/​pay/​leave (somebody) a depositBanks have/​hold/​open/​close/​freeze a bank account/​an account credit/​debit/​pay something into/​take money out of your account deposit money/​funds in your account withdraw money/​cash/£30 from an ATM, etc. (formal) make a deposit/​withdrawal find/​go to/​use (especially North American English) an ATM/(British English) a cash machine/​dispenser be in credit/​in debit/​in the black/​in the red/​overdrawnPersonal finance manage/​handle/​plan/​run/ (especially British English) sort out your finances plan/​manage/​work out/​stick to a budget offer/​extend credit (to somebody) arrange/​take out a loan/​an overdraft pay back/​repay money/​a loan/​a debt pay for something in (especially British English) instalments/(usually North American English) installmentsFinancial difficulties get into debt/​financial difficulties be short of/ (informal) be strapped for cash run out of/​owe money face/​get/ (informal) be landed with a bill for £… can’t afford the cost of…/payments/​rent fall behind with/ (especially North American English) fall behind on the mortgage/​repayments/​rent incur/​run up/​accumulate debts tackle/​reduce/​settle your debts See related entries: BankingExtra examples The president ran up a huge overdraft during her year in office. They exceeded their overdraft by £200 000. We offer a free £400 overdraft. She had run up an overdraft of £3 000. The savings account has no overdraft facility.
See the Oxford Advanced American Dictionary entry: overdraft