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A bank overdraft occurs when you do not have enough money in your account to cover a transaction, and the bank pays for the shortfall. The bank will then typically charge you a fee for this service. The amount of the fee can vary depending on the bank, but it is typically a percentage of the amount of the overdraft, with a minimum fee. In some cases, you may also be charged a daily fee for having an outstanding overdraft balance. If you continue to make transactions that exceed your account balance, you can quickly rack up significant fees. For this reason, it is important to keep track of your account balance and make sure that you have sufficient funds to cover any planned transactions.