Glossary / Also known as

Bank overdraft

Another name for Overdraft.

What does bank overdraft mean?

Bank overdraft is another name for Overdraft. A credit line that lets you spend more than your bank balance - interest only on what you use, for as long as you use it.

The two names mean the same thing. You will see "bank overdraft" in some ledgers, reports and contracts and "Overdraft" in others. The full entry covers how it works, with examples.

Read the full definition of Overdraft

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