Overdraft
If you have an overdraft, then this means you have taken more money out of your bank account than you have put in. Essentially this means you are borrowing from the bank. If you have a bank account with a pre-approved overdraft facility, then this means you can have an overdraft without needing to ask or warn the bank that you will be borrowing this money from them. Just use it as you need it. However, if you take an overdraft without approval then this can lead to fees and penalty charges against you.
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