An overdraft is a banking service that allows account holders to withdraw more money than they have in their account. This can be a useful service in emergencies, but it can also be expensive if it's not used carefully.
Here are some synonyms for bank overdraft:
Synonyms for Bank Overdraft:
- Overdraft protection: This is a service that automatically transfers money from a savings account to a checking account to cover an overdraft.
- Line of credit: This is a type of loan that allows you to borrow money up to a certain limit.
- Credit line: Similar to a line of credit, this is a pre-approved borrowing limit that can be used for various purposes.
- Overdraft facility: This refers to the ability to withdraw more money than you have in your account, usually with a specific limit.
- Negative balance: This is a technical term that refers to an account where the balance is below zero.
- Debt: This is a general term for any money that you owe to someone else.
- Uncovered funds: This refers to a situation where you try to withdraw funds that are not available in your account.
- Unpaid balance: This indicates the remaining amount owed after a transaction or payment.
Note:
The best synonym to use will depend on the specific context. For example, if you're writing about a bank's services, you might use the term "overdraft facility." If you're writing about a personal finance article, you might use the term "overdraft protection."