Overdraft Protection

See: Overdraft.

When it's suuuuper windy. No: When we go to war and young people are forced to fight, whether they Believe or not. No. None of that.

So what is a draft, financially speaking? It’s a signature on a check or some other finance-y piece of paper which draws money from one account, making it payable to another account. Technically, bill payers quote “draw money” unquote, and the olde timey English way of saying that was that they “drafted money” and the phrase literally came from the beer or meade-pouring bartender, who would draught, or draw, another pint.

So in the banking world, you can only draw up to the amount of beer you have available to pour. If you try to overdraw that amount, nothing happens beyond the sound of air farting gently out of the tap head.

Because a draft is a promise to pay, when transactors don’t do this properly, and they draft, or draw more money than they have available in their account, then the event is tantamount to a broken promise to pay. So it’s a really big deal, and most bank account holders are happy to have a kind of insurance embedded in their account that protects them from this 15-yard penalty harming their credit, overdraft protection is a...financial condom.