verb (used with object), overdrew, overdrawn, overdrawing.
to draw upon (an account, allowance, etc.) in excess of the balance standing to one's credit or at one's disposal: It was the first time he had ever overdrawn his account.
to strain, as a bow, by drawing too far.
to exaggerate in drawing, depicting, portraying, or describing: The author has overdrawn the villain to the point of absurdity.
verb (used without object), overdrew, overdrawn, overdrawing.
to overdraw an account or the like: It ruins one's credit to overdraw frequently at a bank.
(of a stove, fireplace, etc.) to draw excessively; have too strong an updraft: When the flue overdraws, all the heat goes right up the chimney.

1325–75; Middle English; see over-, draw

unoverdrawn, adjective
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World English Dictionary
overdraw (ˌəʊvəˈdrɔː)
vb , -draws, -drawing, -drew, -drawn
1.  to draw on (a bank account) in excess of the credit balance
2.  (tr) to strain or pull (a bow) too far
3.  (tr) to exaggerate in describing or telling

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1734, in banking sense, from over + draw.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
But if you don't have the fees, people will overdraw their accounts.
Grant shrewdly conserved himself throughout his career and wisely knew not to
  overdraw the goodwill he had accrued.
Of course, you're probably not planning to overdraw your checking account, but
  mistakes do happen.
Moreover, customers who overdraw their accounts are made aware of the
  consequences of their actions.
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