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kite

noun \ ˈkīt \
Updated on: 13 Oct 2017

Definition of kite

1 :a light frame covered with paper, cloth, or plastic, often provided with a stabilizing tail, and designed to be flown in the air at the end of a long string
2 :any of various usually small hawks (family Accipitridae) with long narrow wings and often a notched or forked tail
3 :a person who preys on others
4 :a check drawn against uncollected funds in a bank account or fraudulently raised before cashing
5 :a light sail used in a light breeze usually in addition to the regular working sails; especially :spinnaker

kitelike

play \ˈkīt-ˌlīk\ adjective

Examples of kite in a Sentence

  1. The children were flying kites.

  2. characterized the neighborhood store owners as kites who ruthlessly gouged their inner-city customers

Recent Examples of kite from the Web

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

Origin and Etymology of kite

Middle English, from Old English cȳta; akin to Middle High German kūze owl

kite Synonyms


2

kite

verb

Definition of kite

kited; kiting
transitive verb
1 :to use (a bad check) to get credit or money
2 :to cause to soar
  • kited the prices they charged wealthy clients
intransitive verb
1 a :to go in a rapid, carefree, or flighty manner
b :to rise rapidly :soar
2 :to get money or credit by a kite

kiter

noun

Recent Examples of kite from the Web

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

First Known Use of kite

1839


Financial Definition of KITE

kite

What It Is

Kiting is the illegal practice of exploiting settlement delays to transfer unavailable funds from one bank account to another.

In the brokerage industry, kiting occurs when a securities firm fails to settle buy and sell orders by the proper settlement deadline.

How It Works

Let's say you have a checking account at Bank ABC and a checking account at Bank XYZ. You use the Bank ABC account to pay the household utility bills, and your electric bill is set up on autopay. Your electric bill this month is $200, and it's going to come out of the Bank ABC account today. However, you only have $15 in the account.

You could move money into the account from the Bank XYZ account, but that account only has $5 in it, so that won't work. If you engage in kiting, you would write a Bank XYZ check for $200 to the Bank ABC account. You take the $200 check to Bank ABC, which instantly credits your ABC account with $200 -- enough to pay the bill. You do this knowing that you don't have $200 in the Bank XYZ account but that actually takes two days for the check to settle. In other words, you won't see a $200 deduction in your Bank XYZ account for two days. If, say, your $1,000 paycheck is scheduled to be deposited into the Bank XYZ bank account tomorrow, you might be tempted to do this, but the act of transferring money you don't have is still kiting.

Why It Matters

Kiting is more difficult to pull off these days, because settlement times have shortened dramatically. Banks also often put holds on deposits, and of course they charge hefty fees for bounced checks.



KITE Defined for English Language Learners

kite

noun

Definition of kite for English Language Learners

  • : a toy that is made of a light frame covered with cloth, paper, or plastic and that is flown in the air at the end of a long string

  • : a type of hawk that has long, narrow wings


KITE Defined for Kids

kite

noun \ ˈkīt \

Definition of kite for Students

1 :a toy that consists of a light covered frame for flying in the air at the end of a long string
2 :a small hawk with long narrow wings and deeply forked tail that feeds mostly on insects and small reptiles


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