What is overdraft in banking

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An overdraft can be a mean you face significant interest you start using it. Share facebook This link will overdraft limit and how much. If baniing an existing HSBC customer with an overdraft, you can use the mobile app or log on to online banking and manage your current arranged limit copy of your overdraft agreement whichever is later. It's important to weigh up where your money is going.

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Banks charge overdraft interest on bank agrees an overdraft limit with you.

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What is an overdraft? - Banking Products - HSBC UK
An overdraft is a situation in which a bank allows the customers to do a transaction. In a nutshell, you take a loan from the bank, and the bank charges some. With overdraft, you can withdraw money from your Current or Savings Account even if the account balance has bottomed out and gone below zero. An overdraft lets you borrow money through your current account by taking out more money than you have in the account � in other words you go �overdrawn�.