overdraft facility
as defined in Directive 2008/48/EC of the European Parliament and of the Council of 23 April…, Article 3, point (d) (Definitions)
an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer's current account
Install the extension for EUR-Lex
Also defined in
- Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for… 32023L2225, Article 3, point (18)
an explicit credit agreement whereby a creditor makes available to a consumer funds which exceed the current balance in the consumer’s current account