A chiefly British spelling variant of overdraft — the condition of having withdrawn more from a bank account than the balance available, or the credit facility that permits this. The -aught spelling is older and reflects an earlier English spelling convention. Now largely replaced by overdraft in standard usage.
He spent three months trying to clear the overdraught he had run up over Christmas.
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UK and Irish slang — Cockney, Scouse, Geordie, Yorkshire, Glaswegian, Brummie, Welsh, West Country, plus Irish English. Centuries of regional dialects feeding into modern British and Irish street talk.
See all British & Irish slang slang on Slangora.
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(chiefly, British) An overdraft.
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