Finance & Banking

Overdraft

ˈoʊvərdræft

noun

What does Overdraft mean?

Spending more than your account holds.

Example sentence

"The overdraft fee was $35."

American usage tip

Turn off overdraft protection to avoid fees.

Related Finance & Banking words

Paycheck
Your salary payment.
SSN
Social Security Number — the key US identity number.
Net worth
Total assets minus total debts.
Employer match
Free money your company adds to your 401(k).
Checking account
The everyday account for spending and bills.
IRA
Individual Retirement Account.
Tax return
The annual filing of your income taxes.
Brokerage
An account for buying stocks and funds.

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