Define overdraft in banking

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This should be avoided at financial practices to provide accurate.

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What is an Overdraft? How do you pay it back?
An overdraft lets you borrow extra money through your current account. For example, if you have no money left in your account and you spend ? An overdraft occurs when something is withdrawn in excess of what is in a current account. For financial systems, this can be funds in a bank account. In these situations the account is said to be "overdrawn". The bank overdraft is a form of short-term credit that account holders can take advantage of without entering into a credit agreement.

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Description: The abnormal rate of return on a security or a portfolio is different from the expected rate of return. Bank of America. With the advent of large-scale interstate branch banking, traditional ad hoc coverage has practically disappeared.