[Deactivated user]
what is the difference between overdraft and overdrawn?
Oct 6, 2012 9:25 PM
Answers · 1
Hi Ali, an OVERDRAFT is a feature provided by many banks to its best customers, where the customer can withdraw money from their accounts even if there is not sufficient balance in their account. The overdraft limit is set by the banks based on the customer's history with the bank and his earning potential. An account is said to be OVERDRAWN if the customer has withdrawn more money that what he has in the account.
October 6, 2012
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