What is the difference between overdraft facility and bank account debit?

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Posted by:
Anayatullah Tahir
06-April-2014

Bank Accounting Economics Banking Bank Reconciliation

Question ajoutée par Sami CHIHA , Finance Manager , SHERWOOD
Date de publication: 2016/04/23

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Overdraft Facility : A option given by a banker to its Current Account Holders wherein the bank shall pay the customer's obligations even if the Account does not have sufficient funds up to a agreed amount by both parties.

Bank Account Debit: The funds available in the account are used immediately to pay off the obligations.

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What is the difference between overdraft facility and bank account debit?

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