noun phrase · neutral
overdraft limit
UK/ˈəʊ.və.dræft ˈlɪm.ɪt/US/ˈoʊ.vɚ.dræft ˈlɪm.ɪt/O·ver·draft LIM·it
the maximum negative balance a bank allows on an account before charging extra fees or blocking transactions
Examples
“I accidentally went over my overdraft limit and the bank charged me fees.”
“Students often have a small overdraft limit to help with cash flow.”
“Banks may increase your overdraft limit if you have a steady salary.”
Band 8 sentence
“After months of careful budgeting I managed to reduce my overdraft limit usage and avoid unnecessary fees.”
Collocations
- exceed your overdraft limit
- increase an overdraft limit
- apply for an overdraft
Word family
Common mistakes
over draft limit→overdraft limit
limit of overdraft→overdraft limit
overdrafts limit→overdraft limit
Say it for a higher band
5go into the red→6overdraft→7+overdraft limit
Synonyms
overdraft facility
Easily confused
credit limit
“My credit limit on the card is higher than my overdraft limit at the bank.”
Related words
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In Shopping & Money
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