OVERDRAFT definition : 1. an amount of money that a customer with a bank account is temporarily allowed to owe to the…. Learn more. Intraday overdraft – A debit occurs in the customer's account resulting in an overdraft which is then covered by a credit that posts to the account during the same business day. Whether this actually results in overdraft fees depends on the deposit-account holder agreement of the particular bank. An overdraft lets you borrow when your account balance is low. Learn about fees, protection, and smart tips to manage overdrafts while avoiding common pitfalls. Overdraft : What is meant by Overdraft ? Learn about Overdraft in detail, including its explanation, and significance in Finance on The Economic Times.
