the account is overdrawn
21Closed Account — In the simplest sense, any account that has been closed out or otherwise terminated, either by the customer or the custodian. From an accounting perspective, closed accounts can also mean an account that is made ready for the new year by closing… …
22current account — current accounts 1) N COUNT A current account is a personal bank account which you can take money out of at any time using your cheque book or cash card. [BRIT] His current account was seriously overdrawn. (in AM, use checking account) 2) N COUNT …
23Rule in Clayton's Case — The rule in Clayton s Case (or, to give it its full legal name and citation: Devaynes v Noble (Clayton s Case) (1816) 1 Mer 572) is a common law presumption in relation to the distribution of monies from a bank account. The rule is based upon the …
24Cash accumulation equation — The cash accumulation equation is an equation which calculates how much money will be in a bank account, at any point in time. The account pays interest, and is being fed a steady trickle of money. Compound interest We will approach the… …
25Bank — For other uses, see Bank (disambiguation). Banker and Bankers redirect here. For other uses, see Banker (disambiguation). Banking …
26overdraw — verb (overdrew; overdrawn; drawing) Date: 1734 transitive verb 1. to draw checks on (a bank account) for more than the balance < the account was overdrawn > 2. exaggerate, overstate intransitive verb to make an overdraft …
27holder in due course — holder in due course: the holder of a negotiable instrument that is complete and regular on its face and that is taken in good faith and for value without notice that it is overdue or has been dishonored or that there is any defense against it or …
28Online authorisation — Online Authorization (or OLA) is a system used to verify a transaction on a payment card (e.g. credit card). The term on line refers to the real time nature of the verification. In other words, if the account is overdrawn, in most cases, the… …
29overdraw — overdrawn o‧ver‧drawn [ˌəʊvəˈdrɔːn◂ ǁ ˌoʊvərˈdrɒːn◂] adjective be/go overdrawn BANKING to be in or to get into a situation where you owe the bank money on an overdraft: • You are entitled to free banking, even when your account is overdrawn.… …
30World Jewish Congress — The World Jewish Congress (WJC), is an international federation of Jewish communities and organizations. Its headquarters are in New York City, USA; its research institute is located in Jerusalem. It maintains international offices in Paris,… …
