- 1An entry recording a sum owed, listed on the left-hand side or column of an account: a double-entry system of bookkeeping, where each debit has a corresponding credit entry The opposite of credit.More example sentences
- As such, a deficit may be a result of the claims foreigners have on the local economy (recorded as a debit in the current account).
- The opposite is true when a country receives capital: paying a return on a said investment would be noted as a debit in the current account.
- The second section was the ledger, consisting of all accounts and their debit and credit entries.
- 1.1A payment made or owed: a further debit of £21 6s 6d had been received from the Locomotive DepartmentMore example sentences
- Make sure all charges are for items you bought and all withdrawals from your account are for checks or debits you made.
- Another aspect of the growth in electronic delivery channels has been the sharp growth in direct entry (both debits and credits) and the decline in the use of cheques.
- Before we know what has happened, the transaction trail starts to get out of hand and scores of debits and credits are going through our account on an almost weekly basis.
verb (debits, debiting, debited)[with object] Back to top
- 1(Of a bank or other financial organization) remove (an amount of money) from a customer’s account: $10,000 was debited from their accountMore example sentences
- As well as using the credit card to obtain goods or services, the card-holder may obtain cash by the use of the card but he is then charged interest from the date the amount is debited from his account with the issuer.
- My bank incorrectly debits a transfer twice from my account, sending me massively overdrawn and making my account unusable for days.
- Because the money is debited from your account within two to three days of the transaction, the consumer has a better idea of where they stand at the end of the month, said O'Reilly.
- 1.1Remove an amount of money from (a bank account): cash terminals automatically debit a customer’s bank accountMore example sentences
- The fact that a substantial amount of Irish people do not actually have a bank account, however, is a major obstacle, as Laser cards work by debiting a person's account for the appropriate amount when they make a purchase.
- One account is debited for the amount involved in any transaction and another account is credited.
- So the legal point of phantom withdrawals hinged on the question: if a PIN is typed into an ATM with a card that matches an account number, is that a mandate by the customer for the bank to debit their account?
be in debit
- (Of an account) show a net balance of money owed to others: the account is only 120 francs in debitMore example sentences
- If the customer's account is in debit, the increase of the amount of the overdraft by the interest charged does not, in reality, discharge a liability.
- Alnor's account, on the other hand, was in debit to the extent of about US $2.8 million and the combined margin account was in debit even after taking into account Profilati's credit position.
- I explained that if I don't have enough money in the account, then I can't get the money out, how can it possibly be in debit?
the debit side
- The unsatisfactory aspect of a situation: on the debit side, they predict a rise in book pricesMore example sentences
- It is fitting to talk of the credit side and the debit side of his reign.
- On the debit side: declining markets, infrastructure out of tune with modern world, ageing personnel, declining motivation levels among junior staff, inability to respond creatively to the demands of a changing market.
- On the debit side, commitments elsewhere mean that Dravid, who has scored 6452 runs in one-day internationals and 5614 in tests, will miss the first three or four weeks of the new season.
late Middle English (in the sense 'debt'): from French débit, from Latin debitum 'something owed' (see debt). The verb sense dates from the 17th century; the current noun sense from the late 18th century.
More definitions of debitDefinition of debit in:
- The US English dictionary