Overdrafting is the process of extracting groundwater beyond the safe yield or equilibrium yield of the aquifer. Since every groundwater basin recharges at a different rate depending upon precipitation, vegetative cover and soil conservation practises, the quantity of groundwater that can be safely pumped varies greatly among regions of the world and even within provinces. Some aquifers require a very long time to recharge and thus the process of overdrafting can have consequences of effectively drying up certain sub-surface water supplies. Groundwater is water located beneath the ground surface in soil pore spaces and in the fractures of geologic formations. ... An aquifer is an underground layer of water-bearing permeable rock or unconsolidated materials (gravel, sand, silt, or clay) from which groundwater can be usefully extracted using a water well. ... Sheep pasture with macroscale erosion, Australia Soil conservation is a set of management strategies for prevention of soil being eroded from the earthâs surface or becoming chemically altered by overuse, salinization, acidification, or other chemical soil contamination. ...
Bank customers who have an overdraft line of credit, called Overdraft Protection can write checks for more than the account balance whenever they want, without fear that their checks will be returned or they will have to pay overdraft check fees for bounced checks.
The term overdraft is also used in reference to the condition that exists when vouchers or purchase orders are drawn in amounts exceeding the amount that has been appropriated or budgeted.
Overdrafts in the UK Banks in the UK often offer a basic overdraft facility, subject to a pre-arranged limit (known as an authorised overdraft limit).
The new "overdraft protection" programs are much more expensive and restrictive than the overdraft lines of credit that banks have offered for decades to favored clients who have big balances or other accounts with them.
Depending on how quickly the overdrafts are repaid, their fees translate into an annual interest rate that can reach several thousand percent, far higher than the rates permitted by state usury laws.
Overdraft charges are the largest part of a long-term move by banks to depend more on fees and less on interest from loans, regulators and consultants say.
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