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Definitions from the Web

Averdraft

Noun

1. A financial institution's decision to honor or pay a check or withdrawal made on an account that does not have enough funds to cover the transaction.

Example sentence: The bank charged me an overdraft fee when my account went negative due to a recent purchase.

Verb

1. To withdraw more money from an account than is currently available, resulting in a negative balance.

Example sentence: Be cautious not to overdraft your account when making a large purchase.

Adjective

1. Used to describe a banking account that allows overdrafts, or a financial feature that enables the withdrawal of more money than is currently held in the account.

Example sentence: The bank offers an overdraft protection service for their customers.

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