1An entry recording an amount owed, listed on the left-hand side or column of an account. The opposite of credit.
- 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.
- 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] (usually be debited)
1(Of a bank or other financial organization) remove (an amount of money) from a customer’s account, typically as payment for services or goods: $10,000 was debited from their account
More 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): the tag on the rear window automatically activates the pump and debits any major credit card
More 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?
on the debit side
- As an unsatisfactory aspect of the 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.
For editors and proofreaders
Definition of debit in:
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.