debit Definition
- 1an entry recording an amount owed, listed on the left-hand side or column of an account
- 2a payment made or owed
Using debit: Examples
Take a moment to familiarize yourself with how "debit" can be used in various situations through the following examples!
Example
The bank made a debit from my account for the monthly fee.
Example
The company's debits and credits must balance at the end of the fiscal year.
Example
I need to check my debit card balance before making a purchase.
debit Synonyms and Antonyms
Phrases with debit
Example
The account has a debit balance of $500.
Example
The supplier issued a debit note for the returned goods.
a plastic card that allows the holder to withdraw money or pay for purchases directly from their bank account
Example
I prefer using a debit card instead of a credit card to avoid debt.
Origins of debit
from Latin 'debere', meaning 'to owe'
Summary: debit in Brief
The term 'debit' [ˈdɛbɪt] refers to an entry recording an amount owed, listed on the left-hand side or column of an account, or a payment made or owed. It is often used in financial contexts, such as 'The bank made a debit from my account for the monthly fee.' 'Debit' extends into phrases like 'debit balance,' denoting the amount by which the debits in an account exceed the credits, and 'debit card,' a plastic card that allows the holder to withdraw money or pay for purchases directly from their bank account.