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WordNet-Online
Definitions from WordNet
Noun check overdraft credit has 1 sense
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Definitions from the WebCheck Overdraft CreditDescription:Check overdraft credit refers to a financial facility provided by a bank to customers that allows them to overdraw their checking account up to a certain limit without incurring a penalty. This line of credit acts as a form of protection against returned or bounced checks due to insufficient funds. It helps individuals and businesses manage cash flow and avoid potential fees and declined transactions. Senses and Usages:Sense 1: Financial FacilityCheck overdraft credit can be an advantageous banking feature, especially for unexpected expenses or temporary shortfalls. Example Sentence 1: Many banks offer check overdraft credit to their customers to prevent financial inconvenience in case of insufficient funds. Example Sentence 2: With check overdraft credit, you can make necessary payments even when your checking account balance is low. Example Sentence 3: Ensure you understand the terms and conditions associated with check overdraft credit before utilizing it. Sense 2: Protection against Returned ChecksCheck overdraft credit protects account holders from facing returned or bounced checks due to insufficient funds. Example Sentence 1: Thanks to their check overdraft credit, the business was able to cover the payment for an important supplier even when their account had a temporary shortage of funds. Example Sentence 2: Instead of facing penalties and fees for bounced checks, customers can take advantage of their check overdraft credit to avoid any financial inconvenience. Example Sentence 3: The bank provides check overdraft credit to its customers as a safety net to prevent declined transactions. Related Products: | ||||
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