Overdraft

Overdraft

With an overdraft option, you are able to withdraw more money from your bank account than you currently have available.

In exchange for loans, banks will often charge a certain rate of interest.

Your ability to borrow money is subject to a limit that has been established in advance, and this limit is different for each borrower.

In most cases, the prepayment of an overdraft facility will not result in a penalty.

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