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check overdraft credit


Definitions from WordNet

Noun check overdraft credit has 1 sense
  1. overdraft credit, check overdraft credit - credit provided by a bank in honoring a customer's overdrafts
    --1 is a kind of open-end credit, revolving credit, charge account credit

Definitions from the Web

Check Overdraft Credit


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 Facility

Check 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 Checks

Check 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.

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