debit

verb
deb·​it | \ ˈde-bət How to pronounce debit (audio) \
debited; debiting; debits

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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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

On June 13 officers met with a resident who reported receiving a message on their computer purporting to be from Microsoft indicating that a pornography website had debited $15,000 from their checking account. chicagotribune.com, "Blotter: 2 unlocked vehicles burglarized in Winnetka," 20 June 2019 In payday lending, examinations uncovered violations such as sending out misleading collection letters and debiting consumers’ accounts without valid authorization. Yuka Hayashi, WSJ, "CFPB Issues First Supervision Report Under Mulvaney," 6 Sep. 2018 Consider that when China imports chips and screens from other Asian countries, and assembles the components before exporting finished products to the U.S., the entire value of the goods is debited from the U.S.-China bilateral balance. Jason Furman, WSJ, "Currency Manipulation Isn’t Among China’s Trade Sins," 15 Oct. 2018 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

Recent Examples on the Web: Noun

Vendors are also required to provide access to their system to users without a smartphone or debit or credit cards. Mary Wisniewski, chicagotribune.com, "Electric shared scooters arrive in Chicago on Saturday: Here's what you need to know," 12 June 2019 Western debit and credit cards don’t work in Crimea. Jeff Opdyke, latimes.com, "Crimea is an unexpected beauty set against an unsettled history," 23 June 2019 Coinbase rival Binance, one of the world’s largest cryptocurrency exchanges, teamed up with Simplex to offer debit and credit card payments with cryptocurrency this year. SFChronicle.com, "Brex gets funding; Epic Games buys Houseparty; Coinbase debit on the move," 12 June 2019 The woman then left a wallet behind that contained 10 debit and credit cards belonging to various people. Pioneer Press Staff, chicagotribune.com, "Men charged with mob action after parking lot fight: Morton Grove police," 4 June 2019 The laptop and debit and LINK cards all were reported missing in the Westminster Drive incident. Suzanne Baker, Naperville Sun, "Three charged in connection with items taken from a Naperville car, cops say," 4 June 2019 The Spruce Street Market accepts cash, credit, debit, WIC, Senior Checks, and SNAP. courant.com, "Community News For The Manchester Edition," 12 June 2019 Friendswood police also recently handled cases involving debit-card fraud and one in which a man lost nearly $6,000 in a scam related to a bogus overseas job opportunity. Jennifer James, Houston Chronicle, "Friendswood police: Grandmom loses $25K to caller posing as officer," 5 June 2019 The rest of their benefits would continue as now, loaded onto a debit-like card that can be used at any store that accepts Supplemental Nutrition Assistance Program, or SNAP, payment. Stephen Koff, cleveland.com, "Talk it Out: Should the government send groceries to food stamp recipients, as Trump wants?," 13 Feb. 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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Statistics for debit

Last Updated

30 Jun 2019

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 How to pronounce debit (audio) \
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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