TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

AUTHORIZED OVERDRAFT [1 record]

Record 1 2010-08-20

English

Subject field(s)
  • Banking
DEF

A service provided by a financial institution whereby it agrees to accept cheques not covered by funds on deposit up to a specified amount.

OBS

Interest is charged on the overdrawn amounts which must be repaid within a short period of time.

French

Domaine(s)
  • Banque
DEF

Accord par lequel la banque consent à ce que le compte de son client soit débiteur pour un montant et une durée déterminés.

Spanish

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