What is another word for over draft?

31 synonyms found


[ ˌə͡ʊvə dɹˈaft], [ ˌə‍ʊvə dɹˈaft], [ ˌəʊ_v_ə d_ɹ_ˈa_f_t]

Overdraft refers to a situation where withdrawals made from a bank account exceed the available balance. This can lead to negative balances and additional fees from the bank. There are several synonyms for overdraft, including deficit, shortfall, indebtedness, and negative balance. These terms all describe a condition where the account holder owes money to the bank, rather than having money available to withdraw. Other synonyms for overdraft include overdrawn, credit limit exceeded, and negative credit balance. Whatever term is used, it is important to manage bank accounts responsibly in order to avoid costly fees and financial difficulties.

How to use "Over draft" in context?

Overdrafting is a term generally used to describe when a person borrows more money than they can easily afford to pay back. This can lead to some serious financial consequences, including high interest rates and even foreclosure.

There are a few key things to keep in mind if you find yourself overdrafting:

1. Make sure you are aware of your bank's borrowing limit. This is the maximum amount of money you can use to borrow from your bank at one time.

2. Consider alternative sources of funding.

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