overdraft credit


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Noun1.overdraft credit - credit provided by a bank in honoring a customer's overdrafts
charge account credit, open-end credit, revolving credit - a consumer credit line that can be used up to a certain limit or paid down at any time
References in periodicals archive ?
Tenders are invited for Services Overdraft Credit Facility
The Target overdraft credit that Italy has received from the Eurosystem - and that made such capital outflows possible - now stands at 192 bln euros.
Further, deferred deposit is cheaper than overdraft credit for small overdrafts.
Asen Berbatov's firm "Berbo - Asen Berbatov" received an overdraft credit in August 2008 with Asen's wife Dimitrinka as guarantor but never paid back the due installments to the bank.
In addition, the availability of current overdraft credit lines were extended for another two years.
By using the incoming transfers to fund outgoing payments, banks avoid the more costly alternatives of drawing down their account balances at the Federal Reserve or using overdraft credit.
If a consumer withdraws money at an automated teller machine and activates an overdraft credit feature on the checking account: