Check Overdraft Credit (Noun)
Meaning
Credit provided by a bank in honoring a customer's overdrafts.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The bank's check overdraft credit policy allowed customers to temporarily exceed their account balance without incurring additional fees.
- When the customer's account was overdrawn, the bank automatically extended a check overdraft credit to cover the transaction.
- The check overdraft credit limit was set at $1,000, giving the customer a financial safety net in case of unexpected expenses.
- The bank's check overdraft credit service was designed to provide customers with a convenient and flexible way to manage their finances.
- By using the check overdraft credit feature, the customer was able to avoid bounced checks and late payment fees.