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An overdraft is

An overdraft is
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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Amount permitted to be withdrawn in excess of one's deposit
  • B Excessive cash withdrawn by commercial banks from the Central Bank
  • C Credit balance standing in the name of a customer
  • D Special deposits made by commercial banks
Correct Answer: Option A
Explanation:
The term bank overdraft refers to a withdrawal of money that is greater than the available balance in an account.

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