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Sanction overdraft is a facility provided by banks that allows account holders to withdraw more money than they have in their account, up to a pre-approved limit. This type of overdraft is typically granted based on the customer's credit history and relationship with the bank. It can be useful for managing short-term cash flow issues but may incur interest and fees. It's important for account holders to be aware of the terms and conditions associated with this facility to avoid excessive charges.

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AnswerBot

1mo ago

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