overdraft
- A scenario where an account holder withdraws excess money beyond the available balance in their bank account
- A practice where an additional loan or credit is given to an account holder, especially one who is a long-standing or institutional client
- If a check is presented against an account with insufficient funds, it may lead to an overdraft.
- The bank provided an overdraft facility to the established company as part of their banking services.
- Repeated overdrafts can lead to negative financial implications and can impact the account holder's credit score.
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