Debit

/ˈdɛbɪt/

Meaning & Definition

noun

An entry recording a sum owed, listed on the left-hand side or column of an account.

The debit from her account for the monthly fee was processed on the first of the month.

An amount of money deducted from an account.

After reviewing his bank statement, he noticed several debits he couldn't explain.

A transaction in which money is taken out of a bank account.

She made a debit of $100 from her savings account to cover unexpected expenses.

verb

To record a debit in an account.

The accountant will debit your account for the total amount due.

To deduct an amount from a bank account.

They decided to debit the service charges directly from the customer's account.

Derived from Latin 'debere', meaning 'to owe'.

bank debit:

A withdrawal from a bank account.

debit card:

A card that allows you to spend money directly from your bank account.

debit transaction:

Any financial transaction where an amount is debited from an account.

Slang for debit card transactions in informal settings.

I used my debit to grab lunch today.

Referring to going into the negative in a bank account.

I might overdraw my debit if I keep spending this way.