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 Market Street upgraded the meters last year to be able to accept charitable donations through debit and credit cards instead of just change and saw a significant increase in donations. Jamie Swinnerton, Houston Chronicle, "Local charities set to benefit from change at Market Street in Woodlands," 14 Jan. 2020 Tevon Dantrel Jackson, 19, of the 6700 block of North Bosworth Ave., Chicago, was charged with home invasion and possession of another person’s credit, debit, or ID card in the 6800 block of North Clark St. in Chicago on Aug. 14. Brian L. Cox, chicagotribune.com, "Blotter: Man charged with home invasion in Skokie," 20 Aug. 2019 Police conducted a debit or credit-card abuse investigation Feb. 24 in the 2700 block of Pearland Parkway. Jennifer James, Houston Chronicle, "Fraud cases reported throughout Pearland," 4 Mar. 2020 The ad said Joker's Stash would offer 30 million debit and credit card records from U.S. customers across 40 states and more than 1 million global customers. Khristopher J. Brooks, CBS News, "Wawa customer data exposed during hack now sold on dark web," 29 Jan. 2020 The offenses include drug possession, fraudulent use of a credit or debit car, burglary, theft of property, resisting arrest and burglary. Carol Robinson | Crobinson@al.com, al, "Man indicted in 2019 beating death of retired lawyer in Hoover home," 27 Jan. 2020 According to data provided by analytics firm Second Measure, which looks at anonymized credit card and debit purchases, ClassPass sales in the United States have been growing over the past two years. Sara Ashley O'brien, CNN, "Fitness startup ClassPass is now a unicorn," 8 Jan. 2020 But representatives of the industry and a coalition of rural counties on the Western Slope and Eastern Plains said the benefits of going from annual to semiannual inspections are marginal, while the debits could be great. Judith Kohler, The Denver Post, "Debate over emission controls on oil and gas reveals divides across Colorado," 17 Dec. 2019 CBA Loop, recently launched in Kenya offers an all-digital banking experience with the only in-store visit being for the sake of fingerprinting for KYC and to collect an International debit Mastercard. Wiza Jalakasi, Quartz Africa, "After years of rapid growth in Africa we’re about to enter the age of Mobile Money 2.0," 4 Oct. 2019

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

12 Mar 2020

Cite this Entry

“Debit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/debit. Accessed 1 Apr. 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

Comments on debit

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