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overdraft
(redirected from Bounce protection)

    Also found in: Legal, Wikipedia 0.04 sec.
Overdraft
An instant extension of credit from a lending institution.

Notes:
For example, if you have an overdraft account, your bank will cover checks which would otherwise bounce. You pay interest on the outstanding balance of the loan much like any loan.

See also: Bank, Credit
Overdraft
Provision of instant credit by a lending institution.
overdraft
A draft for more than the balance in the account on which the draft is drawn. A bank may honor an overdraft, depending on the importance of the customer and on prior arrangements (if any) to cover overdrafts. See also NSF check.


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? Mentioned in ? References in periodicals archive
 
In her new position, LoBello will be responsible for the operations department, electronic funds, and the bounce protection program.
City & Suburban Federal Savings Bank announced that Dianne LoBello ... by Real Estate Weekly
HOUSTON -- "The Federal Reserve Board (FRB) is on the right track with its recent ruling on share draft/check overdraft fees and its proposed rules to reign in the abusive practices of some courtesy pay and bounce protection programs," says John M.
Originator of Check Overdraft Programs Praises Fed's Proposed Rules ... by Business Wire
Not all checking account overdraft protection programs are created equal," a leading vendor of such bounce protection programs warned attendees today at the Consumer Federation of America's Financial Issues Conference.
Leading Vendor Warns Consumers: 'Be Selective' on Overdraft Programs; ... by Business Wire
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