overdrafto‧ver‧draft /ˈəʊvədrɑːft $ ˈoʊvərdræft/ noun [countable] British English 
a £250 overdraft Many students have a free overdraft facility (=agreement with their bank to have an overdraft up to a particular limit).
EXAMPLES FROM OTHER DICTIONARIES
- I've already got an enormous overdraft.
- When he left college, he had a $3000 overdraft.
- An overdraft offered more flexibility but higher cost.
- Answer guide: The cash is needed in the business, see overdraft situation, it will need to be left in.
- As a result, the groundwater overdraft, instead of being alleviated, has gotten worse.
- As one example, the bank would begin charging interest the day a kibbutz incurred an overdraft.
- I want to go on farming, but I will have to see if my overdraft can take it.
- Imagine now that a customer of an individual bank applies successfully for an overdraft.
- Keep within the limit and you will not pay the penalties that come with unauthorised overdrafts.
- They had been given borrowing and overdraft facilities.
THESAURUS
noun [countable] an amount of money that is borrowed, especially from a bank or company, which you agree to pay back by the end of a period of time: · We took out a loan to buy a new car.· He is paying back a $50,000 loan.
noun [countable] a large amount of money that someone borrows from a bank or company to buy a house: · Nick told me the mortgage on his apartment is worth about $90,000.· Anyone taking out a mortgage should be aware that interest rates can go up at any time.· It took my parents nearly thirty years to pay off their mortgage.
noun [uncountable] money that you pay for borrowing money, especially that you pay every year or every month at a fixed rate: · Credit companies charge huge amounts of interest.· What’s the interest on the loan?
noun [countable] British English the amount of money that you owe to bank when you have spent more money than you had in your account: · I left university with no job and a big overdraft.· 20% of the bank’s customers regularly use their overdraft facility.· You have to pay a fee for unauthorized overdrafts.
noun [countable, uncountable] an amount of money that a person or organization owes: · The company now has debts of almost £2 million.· A lot of the money went towards paying his debts.· The family were $100,000 in debt (=they owed $100,000).
noun [uncountable] an arrangement with a shop or bank that allows you to buy something and pay for it later: · We bought the furniture on credit.· He had a credit limit of £7,000.
Longman Language Activatormoney that someone owes money that you owe, especially a large amount: · Debt is one of the main social problems of our time.debt of: · The government now has debts of $2.5 billion.pay off/repay a debt (=pay all the money that you owe): · It took us three years to pay off all our debts.write off a debt (=agree that it will not and does not need to be repaid): · He protected less profitable state farms by writing off their debts.foreign debt (=money owed by foreign countries): · To pay the interest on our foreign debt, we will have to import less.a bad debt (=a debt that will never be repaid): · Lenders must try and protect themselves against bad debts.
an amount of money that you owe to your bank when you have spent more money that you had in your bank account: · I've already got an enormous overdraft.a £100/$1500 etc overdraft: · When he left college, he had a $3000 overdraft.
the debts that a company, government etc is legally responsible to pay - used especially in legal and business contexts: · The chart shows the movements in the company's liabilities and assets during a particular trading period.· US external net liabilities rose throughout the 1980s.
the total amount of money that a company has borrowed and owes - used in business contexts: · Borrowings at the end of the year amounted to nearly $27 million.· The company was now so large it could increase its borrowings to almost any figure it chose.
a note that you write saying that you owe someone money or that you will pay for something later - often used by journalists as an informal word for a legal agreement in which one business or organization owes another money: · Essentially, a bond is an IOU.give somebody an IOU: · There was anger among farmers, who were being given IOUs instead of cash for their crops.
WORD SETSacceptor, nounA/D, after date, adverbagio, nounAPACS, ARM, Asian Development Bank, nounATM, nounaval, nounbalance, nounbank, nounbank, verbbank account, nounbank balance, nounbankbook, nounbank card, nounbank draft, nounbanker, nounbanker's card, nounbanker's order, nounbank manager, nounbank mandate, bank money, banknote, nounbank rate, nounBBA, nounb/e, blank cheque, nounBoard of Banking Supervision, nounB of E, bounce, verbbuilding society, nounC/A, cap and collar, nouncapital adequacy, nouncard, nouncardholder, nouncash account, cash against documents, nouncash card, nouncash dispenser, nouncashier, nouncash machine, nouncash management, Cashpoint, nouncash ratio, central bank, nouncertificate of deposit, nouncertificate of protest, nouncharge account, nouncharge card, nouncheckbook, nounchecking account, nounchequebook, nouncheque card, nounCHIPS, CIB, clear, verbclearance, nounclearer, nounclearing bank, nounclearing house, nounClearing House Automated Payment System, nounClearing House Interbank Payments System, nounclient account, CMO, co-manager, nounComptroller of the Currency, nounconfirmed irrevocable credit, credit, verbcredit analysis, credit appraisal, credit control, credit facility, credit rationing, nouncross, verbcrossed cheque, nouncurrent account, nouncustodial account, debit, noundebit, verbdebit card, noundebit note, noundemand account, denomination, noundeposit, noundeposit account, noundeposit certificate, depositor, noundepository institution, deposit protection fund, noundevelopment bank, direct debit, noundirect deposit, noundiscount loan, documentary credit, draft, noundraw, verbeffective rate, EFTPOS, nounendorsee, nounendorser, nounescrow account, Euribor, nounEurodollar, nounEuropean interbank offered rate, export credit, extended credit, face amount, Federal funds, fiduciary, nounfinance charge, financial institution, nounforeign currency account, funder, nounFX, giro, nounhole-in-the-wall, nounidle balance, institutional investment, Issue Department, nounissuer, nounlodgment, nounlong-term credit, loro account, medium-term credit, merchant bank, nounmoney market, nounmoney order, nounnegotiable, adjectivenon-negotiable, adjectivenostro account, note issuance facility, notice account, NOW account, numbered account, overdraft, nounoverfunding, nounoverlend, verbpassbook, nounpayee, nounpaying-in book, nounpaying-in slip, nounpersonal credit, personal identification number, nounPIN, nounpostdate, verbpublic account, R/D, rediscounting, nounreserves, nounrevolving credit, risk analysis, nounsafety-deposit box, nounsave, verbsaver, nounsavings account, nounsavings bank, nounsecured credit, seignorage, nounself-liquidating, adjectiveshort-term credit, smart card, nounstanding order, nounstub, nounsuspense account, Switch card, nounteller, noununsecured credit, vostro account, yield spread,
COLLOCATIONS FROM THE ENTRY Many students have a free overdraft facility (=agreement with their bank to have an overdraft up to a particular limit).COLLOCATIONS FROM THE CORPUSNOUN
the amount of money you owe to a bank when you have spent more money than you had in your account: Many students have a free overdraft facility (=agreement with their bank to have an overdraft up to a particular limit).· Not for him the promise of jam tomorrow or a brave, new world waiting just around the next bank overdraft.· Transfers made to pay the players wages and stem a bank overdraft.· There are four main methods of funding: cash purchase, bank overdraft, hire purchase and leasing.· Using a bank overdraft, would incur an interest cost, with tax capital allowances being available as above.· Because they had squandered all their cash, they each had bank overdrafts of around £1,500.
· We also provide interest free overdraft facilities in the first year of study.· As the overdraft facility is used, however, two things begin to happen simultaneously.· The company had agreed an overdraft facility with the bank that by December 1986 had been raised to £40,000.· When the overdraft facility is fully used, the composition of assets will have changed.· Mr. Tucker agreed to allow an overdraft facility of £60,000 for one month.· You may want a permanent overdraft facility.· But remember that this change in the composition of assets came about because the borrower used his overdraft facility.· We can offer current accounts with overdraft facilities and deposit and loan accounts in any major international currency.
VERB· The company had agreed an overdraft facility with the bank that by December 1986 had been raised to £40,000.· If you ask your manager first and he agrees, then an overdraft is a convenient and economic way of borrowing money.· Mr. Tucker agreed to allow an overdraft facility of £60,000 for one month.· A £500 agreed overdraft with NatWest will cost you nearly £92 over a year.· Therefore, an agreed overdraft of £1,000 will cost you £247.11 including fees.· Spend an extra £500 on top of a £500 agreed overdraft and you could end up paying a total of £311.61.
· Large corporate customers pay interest on overdrafts at the bank's base rate plus 1%.· The trustees pay off that overdraft.· They would rather that you paid interest on your overdraft than that they paid interest on theirs. 4.· Must I pay off our joint overdraft?· The crunch came when my bank asked for my credit card back and demanded I pay off the overdraft at once.· It's the only certain way to pay off an overdraft which he expects by then to have topped £1,000.
a £250 overdraft Many students have a free overdraft facility (=agreement with their bank to have an overdraft up to a particular limit).