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“allo scoperto”

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05:43 Nov 1, 2013
This question was closed without grading. Reason: Other

Italian to English translations [PRO]
Bus/Financial - Finance (general) / money transfer company
Italian term or phrase: “allo scoperto”
Sì, M2M ci ha mostrato il funzionamento del loro software per il caricamento automatico dei dati dei loro clienti. Oltre a tale verifica, ricordo che M2M ci ha spiegato che le subagenzie con cui collaboravano operavano “allo scoperto” per circa 30.000 Euro.
garrett higgins
Local time: 08:26
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Summary of answers provided
4 +3on credit
James (Jim) Davis
3 +3see below
lydders


Discussion entries: 4





  

Answers


3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
see below


Explanation:
I think what they mean is that the "subagenzie" performed transactions without having sufficient funds to cover such operations - soperhaps you could say that they were operating "in the red" or something similar.

lydders
Italy
Local time: 09:26
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 77

Peer comments on this answer (and responses from the answerer)
agree  ViBe: sounds plausible: "with their accounts overdrawn by ..."
2 hrs

agree  James (Jim) Davis: Hi Lydders, the moderators will be on to you for posting "see below". It is against the rules you have to post an actual term so it can go into the glossary, but yes I agree with "something similar".
12 hrs

agree  Peter Cox
4 days
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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
on credit


Explanation:
This is an unusual use of the phrase which usually means short selling. However short selling is a stock exchange dealing technique and these sub agencies carry out money transfers not dealing. Also the sum of 30,000 euro is far too low for dealing in securities. I must therefore mean that they are overdrawn on an account, and since it does not seem to be a bank account, it is easier to simply say they operate on credit.

James (Jim) Davis
Seychelles
Local time: 11:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4482

Peer comments on this answer (and responses from the answerer)
agree  Linda Thody
18 mins

agree  EleoE
3 hrs

agree  missdutch: thank you for your explanation above, now it makes more sense to me.
16 hrs
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