Overdraft fee

Overdraft fee,

Definition of Overdraft fee:

  1. A deficit in a bank account caused by drawing more money than the account holds.

  2. A fee charged when a withdrawal from an individuals bank account exceeds the available balance. The bank will institute such a fee to cover the cost of the transaction. Overdraft fees vary by financial institution and can be incurred for each transaction going over the available account balance.

Synonyms of Overdraft fee

Credit, Advance

How to use Overdraft fee in a sentence?

  1. When I left Cambridge I had a £900 overdraft.

Meaning of Overdraft fee & Overdraft fee Definition