Word
overdraft
Phoneticsover·draft
US/ˈoʊvɝˌdɹæft/
UK/ˈəʊvədɹˌɑːft/
Definition
n. a situation where you spend more money than you have in your bank account. You usually pay a fee for this and must pay back the extra amount later.
n. a state of having spent more money than is available in a bank account. Often refers to a prearranged facility allowing a customer to withdraw funds beyond their balance up to a specific limit.
Examples
“I accidentally went into an overdraft by paying for groceries.”
“The bank charged a high fee for the overdraft, so he had to pay it back immediately to avoid further charges.”
“While a temporary overdraft can provide necessary liquidity during a cash flow crisis, it is generally advisable to avoid this practice as it often results in significant interest costs.”
Examples
simple
“I accidentally went into an overdraft by paying for groceries.”
contextual
“The bank charged a high fee for the overdraft, so he had to pay it back immediately to avoid further charges.”
complex
“While a temporary overdraft can provide necessary liquidity during a cash flow crisis, it is generally advisable to avoid this practice as it often results in significant interest costs.”
Real-World Examples
“They offer an interest-free overdraft, perfect if you’re ever in a tight spot one month.” “Sign-up perks may capture the attention but should the focus be on the interest-free overdraft?” Etymology
From over- + draft.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
- Exam level
- CambridgeCambridgeCambridge English QualificationsThe exam suite from Cambridge University Press & Assessment, from A1 Movers up to C2 Proficiency. The benchmark names double as CEFR labels.B2 FirstIELTSIELTSInternational English Language Testing SystemThe 0–9 band test co-owned by the British Council, IDP, and Cambridge. Used for university entry, work, and migration.5.5–6.5TOEFL iBTTOEFL iBTTest of English as a Foreign Language, Internet-Based TestETS's academic English test, the standard route for US university admissions. Scored 0–120, with a 1–6 scale since 2026.1–6 scale: 4.0–4.572–94TOEICTOEICTest of English for International CommunicationETS's workplace English test, big in Japan and Korea. Listening & Reading scores 10–990 and tops out at C1.785–944
- Frequency
- Occasional
- Level
- B2 · Upper Intermediate
- Updated
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QR code
englishreference.com/q/overdraft