Agreed overdraft definition
Agreed overdraft means we have agreed in writing with you that you can have an overdraft on your Account up to a certain amount which we call the “agreed overdraft limit” in these terms and conditions.
Agreed overdraft means the amount of funds that exceeds the positive balance in the consumer’s payment account, and which a payment service provider makes available to a consumer on the basis of a contract;
Examples of Agreed overdraft in a sentence
If you already have an agreed overdraft, you can use your Card to make withdrawals, but you must not go over your Agreed overdraft limit.
We will charge you a fee for any items presented for payment when you have gone overdrawn or the amount you have gone over the Agreed overdraft limit.
If, by using your Card, you go overdrawn and you do not have an agreed overdraft or you go over the Agreed overdraft limit and we have not given you permission to do so, you must immediately pay back the amount by which you have gone over the limit.