For common people, Cheque and Overdraft may mean the same as both link to the way of withdrawing money, but they have a lot of difference in terms of meaning and financial procedure.
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For rent payments or medical payments overdraft can be a good choice over cash credit. Cheque simultaneously is more secure regarding cash transfer.
Thus now you have a clear concept of these two financial terms. Choose wisely!
References
- https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.kluwer/erpl0018§ion=92
- https://academic.oup.com/rfs/article-abstract/27/4/990/1603971