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Definition of 'Overdraft Cap'
The maximum dollar limit that a bank will send to another financial institution in one day. The overdraft cap limits the amount that banks will send via private payment or the Fedwire network. This cap limits a bank's daylight-overdraft exposure.
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Investopedia explains 'Overdraft Cap'
The overdraft cap varies from one bank to another. It is a multiple of each bank's risk-based capital. The cap applies not only between banks but also between banks, brokerage firms and credit unions, as well as other financial institutions.
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Search results for 'Overdraft Cap'
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http://stocks.investopedia.com/stock-analysis/2011/Bank-Revenues-Threatened-By-New-Interchange-Fees-RF-HBAN-PNC-WFC0426.aspx
... how much the industry collectively would lose in revenues from the 12-cent cap. ... from
the interchange fee reduction and another change related to overdraft fees ...
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http://financialedge.investopedia.com/financial-edge/0410/Top-Ways-To-Invest-Your-Tax-Refund.aspx
... ING Direct's electric orange checking has no overdraft charges, no ATM surcharges
and no ... represent a wide array of investment options, from large-cap value to ...
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