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 The purchases are automatically debited from your checking account. cleveland, "When is it OK to give your driver license to a business? — Money Matters," 16 Feb. 2020 When drivers pass under overhead gantries, their E-ZPass account will be debited the amount of the trip. Washington Post, "Tolling on 395 Express Lanes starts Sunday. Here’s what you need to know.," 16 Nov. 2019 When drivers pass under overhead gantries, their E-ZPass account will be debited the amount of the trip. Washington Post, "Tolling on 395 Express Lanes starts Sunday. Here’s what you need to know.," 16 Nov. 2019 When drivers pass under overhead gantries, their E-ZPass account will be debited the amount of the trip. Washington Post, "Tolling on 395 Express Lanes starts Sunday. Here’s what you need to know.," 16 Nov. 2019 Payday lenders peddle small-dollar loans, available right away, then debit the amount borrowed, plus a financing fee, on the borrower’s next payday. Sidney Fussell, The Atlantic, "The New Payday Loan Looks a Lot Like the Old Payday Loan," 18 Dec. 2019 When drivers pass under overhead gantries, their E-ZPass account will be debited the amount of the trip. Washington Post, "Tolling on 395 Express Lanes starts Sunday. Here’s what you need to know.," 16 Nov. 2019 Five months later, Martin realized her account was still open and the credit card used for it was still being debited $45 a month. BostonGlobe.com, "In April, Sandy Martin called Frontpoint Security to cancel the company’s 24-hour home security service for her Salem condo.," 8 Nov. 2019 When drivers pass under overhead gantries, their E-ZPass account will be debited the amount of the trip. Washington Post, "Tolling on 395 Express Lanes starts Sunday. Here’s what you need to know.," 16 Nov. 2019 Recent Examples on the Web: Noun Duck Donuts, Scout & Molly’s, Urban Outfitters and West Elm have occupancy limits posted, and Graeter’s Ice Cream and Urban Outfitters are requesting people pay in cash, debit or mobile payments. Hannah Drown, cleveland, "Small crowds at outdoor Pinecrest shopping center in Orange Village as retail re-opens (photos)," 12 May 2020 Never wire money, provide debit or credit card numbers to a stranger. oregonlive, "Portland therapists warn about scam from caller professing to be from Multnomah County Sheriff’s Office," 4 May 2020 The store also has a regular credit/debit checkout and an acrylic sneeze guard that most retailers have installed in recent weeks. Maria Halkias, Dallas News, "7-Eleven pop-up opens in Children’s Medical Center Dallas as convenience to workers and families," 23 Apr. 2020 Never give out your bank account, debit account or PayPal account information — even if someone claims it's necessary to get your check. Kate Gibson, CBS News, "Stimulus check recipients a target for scams, officials warn," 20 Apr. 2020 The World Harvest Food Bank requests a $40 donation (cash, debit or EBT) or a four-hour volunteer shift in exchange for a cart of groceries. Nicole Santa Cruz, Los Angeles Times, "How to help local food banks get needed supplies during the coronavirus pandemic," 8 Apr. 2020 The current cost of an interstate call is 21 cents a minute for debit or prepaid calls, and 25 cents a minute for collect calls. NBC News, "Many families struggle to pay for phone calls with loved ones in U.S. prisons," 31 Dec. 2019 In the ParkMobile app, users can add their debit or credit card information. Anna Beahm | Abeahm@al.com, al, "No more ‘but the meter was broken:’ Pay-by-app parking coming to Birmingham," 25 Feb. 2020 Still, customers who used their debit or credit card at Wawa between March 4, 2019, and December 10 may have had their card data exposed. Khristopher J. Brooks, CBS News, "Wawa customer data exposed during hack now sold on dark web," 29 Jan. 2020

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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Time Traveler for debit

Time Traveler

The first known use of debit was in 1668

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Statistics for debit

Last Updated

24 Apr 2020

Cite this Entry

“Debit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/debit. Accessed 29 May. 2020.

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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
How to pronounce debit (audio)

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

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