debit

verb
deb·it | \ˈde-bət \

Definition of debit 

(Entry 1 of 2)

transitive verb

: to enter upon the debit side of an account : charge with a debit

debit

noun

Definition of debit (Entry 2 of 2)

1a : a record of an indebtedness specifically : an entry on the left-hand side of an account constituting an addition to an expense or asset account or a deduction from a revenue, net worth, or liability account

b : the sum of the items entered as debits

2 : a charge against a bank deposit account

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Synonyms & Antonyms for debit

Synonyms: Noun

disadvantage, downside, drawback, handicap, incommodity, liability, minus, negative, strike

Antonyms: Noun

advantage, asset, edge, plus

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Examples of debit in a Sentence

Verb

The bank mistakenly debited my account $200! Your account will automatically be debited for the amount of your insurance bill every month.

Noun

I forgot to enter some of the debits in my bank account register. The account's credits were added and the debits subtracted. a $30 debit for groceries
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Recent Examples on the Web: Verb

When a vehicle with a transponder travels through an E-ZPass toll facility, an antenna at the toll plaza reads the information on the transponder and the toll is automatically debited from the pass holder’s account. Luz Lazo, Washington Post, "Should you get your E-ZPass in Maryland or Virginia?," 31 May 2018 Aran Coello said the move will help speed up the check-in process because cash transactions take longer then debit/credit transactions. Chabeli Herrera, miamiherald, "American Airlines will no longer accept cash at Miami airport | Miami Herald," 16 Jan. 2018 They are credited with $3 million from Miami in the Stanton trade and are debited $5.5 million in the Brian McCann trade to Houston in November 2016 and $500,000 in the Chase Headley trade this month to San Diego. USA TODAY, "Sabathia's $10M deal finalized by Yanks; payroll up to $178M," 26 Dec. 2017 The only distinguishing feature is that the money will be debited from the user’s Venmo balance. Natasha Bach, Fortune, "Venmo Has Invited Some Users to Trial Its Ugly New Debit Card," 12 Sep. 2017 Short-term loans that customers can roll over are capped at three, and lenders are barred from debiting customer checking accounts after two unsuccessful attempts at collection. The Editorial Board, WSJ, "President Cordray Strikes Again," 5 Oct. 2017 Instead, the fraudster debited the account for $19. Teresa Dixon Murray, cleveland.com, "Postcard promises $100 Walmart, Target prize, but it's a way to steal your money: Money Matters," 15 Oct. 2017 After two failed attempts to access the borrowers back account, the lender can’t debit the account again unless the borrower authorizes it. Paul Davidson, USA TODAY, "Payday loans face new challenge: Can borrowers afford them?," 5 Oct. 2017 The scammers then debit the credit card leaving the vet with a financial charge and nothing in return except for the lengthy process of cancelling the credit card. Aarp Washington, The Seattle Times, "America’s vets have a new enemy: Scammers," 24 July 2017

Recent Examples on the Web: Noun

Someone made an unauthorized purchase from Walmart.com using a person's debit account information. Sun-Sentinel.com, "CRIME," 12 Apr. 2018 Second Measure and Earnest Research, which use debit and credit card data to track spending, found that 32 percent and 43 percent, respectively, have used ride-sharing services in the last 12 months. Rani Molla, Recode, "Americans seem to like ride-sharing services like Uber and Lyft. But it’s hard to say exactly how many use them.," 24 June 2018 Higher One, in a particularly egregious example, aggressively marketed debit accounts littered with fees to college students — and was ordered to pay millions of dollars in restitution for deceptive marketing and improper disclosures. Tara Siegel Bernard, New York Times, "Loan Program Plans to Offer Students Prepaid Bank Cards," 24 Jan. 2018 Paper food stamps are long gone, replaced beginning nearly two decades ago by debit-style cards, called Electronic Benefit Transfer cards. New York Times, "This Start-Up Says It Wants to Fight Poverty. A Food Stamp Giant Is Blocking It.," 23 Apr. 2018 Under the settlement, Visa, Mastercard and a number of banks that issue debit and credit cards including JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp. would pay the merchants around $6.5 billion, some of the people said. Annamaria Andriotis, WSJ, "Visa, Mastercard Near Settlement Over Card-Swipe Fees," 28 June 2018 For example, debit or credit cards may charge foreign transaction fees ranging from 1 percent to 3 percent of each purchase. Melissa Lambarena, chicagotribune.com, "Chart a course for a low-hassle destination wedding," 14 June 2018 To the best of our knowledge at this time only debit and credit card information may have been compromised. Nathan J. Fish, azcentral, "Goodyear says bill-pay system may have been compromised," 8 May 2018 The financial industry’s fees amount to about 2 percent of a typical credit-card transaction, or 24 cents for debit. BostonGlobe.com, "EU warns Trump it won’t negotiate under trade tariffs threat," 3 May 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'debit.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of debit

Verb

1668, in the meaning defined above

Noun

1746, in the meaning defined at sense 1a

History and Etymology for debit

Noun

Latin debitum debt

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Learn More about debit

Phrases Related to debit

direct debit

on the debit side

Statistics for debit

Look-up Popularity

Time Traveler for debit

The first known use of debit was in 1668

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More Definitions for debit

debit

noun

Financial Definition of debit

What It Is

A debit is an accounting record that represents either an increase in assets or a decrease in liabilities or net worth. A debit is the opposite of a credit.

How It Works

For example, let's say that Company XYZ sells $1,000,000 worth of widgets to John Doe for cash. On the balance sheet, the accountants would debit cash by $1,000,000 (that is, increase cash) and credit inventory by $1,000,000.

Why It Matters

In accounting terms, "debit" and "credit" confuse most people, and it is usually clearer (and safer) to indicate which accounts increase or decrease. However, any financial professional should know the terms.

Debits and credits reflect the double-entry bookkeeping method. This involves making at least two recording entries for every transaction: a debit in one account and a credit in another account. The method helps prevent errors because the sum of the debits should equal the sum of the credits.

Source: Investing Answers

debit

verb

English Language Learners Definition of debit

 (Entry 1 of 2)

: to take money from (an account)

debit

noun

English Language Learners Definition of debit (Entry 2 of 2)

: an amount of money that is taken from an account

debit

verb
deb·it | \ˈde-bət \
debited; debiting

Kids Definition of debit

 (Entry 1 of 2)

: to record as money paid out or as a debt The amount was debited on my bank statement.

debit

noun

Kids Definition of debit (Entry 2 of 2)

: an entry in a business record showing money paid out or owed

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More from Merriam-Webster on debit

Thesaurus: All synonyms and antonyms for debit

Spanish Central: Translation of debit

Nglish: Translation of debit for Spanish Speakers

Britannica English: Translation of debit for Arabic Speakers

Comments on debit

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