What is "account overdraft" (or "overdraft")?

Practically, an overdraft is also a kind of credit, but easier to obtain. In Romanian, it is "descoperire de cont". It means that the bank gives you a line of credit (money that you can access anytime, with less effort than with a loan) worth up to 6 salaries, attached to the current account.

Overdraft has several advantages over a traditional loan. For example, the bank does not charge fees and commissions if you do not use the granted amount. And you pay interest only for the money spent, and when you pay back the amount used from the credit line, you can use it again immediately. In addition, it is easy to obtain:

you can get it online, from BT Pay or go with your identity document to the bank, and if you collect your income from your workplace at that bank, you don't need any documents from work.

This line of credit starts to be used at the moment when you run out of your own funds that you have on cont. The amount used is automatically replenished when you top up the account.

The currency for granting the overdraft is RON. 💰