OVERDRAFT

OVERDRAFT overdraft. 1. A withdrawal of money from a bank in excess of the balance on deposit. [Cases: Banks and Banking 150. C.J.S. Banks and Banking ¡ì¡ì 349¨C352, 358.] 2. The amount of money so withdrawn. ¡ª Abbr. OD; o/d. 3. A line of credit extended by a bank to a customer (esp. an established […]