What does "debit" mean?

1. (money taken out) an amount of money taken out of a bank account. 2. (accounting entry) a record in an account showing money that is owed or has been paid out. 3. (to take money from) to take money from a bank account or to record a payment. 4. (related to bank cards) relating to a bank card that takes money directly from your account.

How do you use "debit"?

Often used in the phrase 'direct debit' for automatic payments. In formal accounting, debits must always balance with credits. Usually takes a direct object (the account or the amount). Almost always used as a modifier before 'card'.

debit

n. · v. · adj.

US //ˈdɛbɪt// UK //dˈɛbɪt// deb·it

1 money taken out (n.)
B2 Upper Intermediate

an amount of money taken out of a bank account.

a sum of money withdrawn from a bank account, representing a reduction in the balance held by the institution.

Example

The monthly gym membership is a debit that comes out of my account on the first of the month.

Example

The bank statement showed a significant debit for the mortgage payment alongside several smaller transactions for utility bills.

Usage

Often used in the phrase 'direct debit' for automatic payments.
- withdrawal
- payment
- credit
- deposit
2 accounting entry (n.)
C1 Advanced Technical Law

a record in an account showing money that is owed or has been paid out.

an entry in the left-hand column of an account, representing an asset or an expense in double-entry bookkeeping.

Example

The accountant made a debit in the ledger to show the cost of the new equipment.

Example

Under the double-entry system, every debit recorded in the company's ledger must be offset by a corresponding credit entry elsewhere.

Usage

In formal accounting, debits must always balance with credits.
- entry
- charge
- credit

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3 to take money from (v.)
B2 Upper Intermediate

to take money from a bank account or to record a payment.

to remove an amount of money from a bank account or to record a transaction as a debt in an account.

Example

The shop will debit the total amount from your account within three working days.

Example

The telecommunications provider is authorised to debit the customer's account automatically on the fifteenth of each month.

Usage

Usually takes a direct object (the account or the amount).
- charge
- withdraw
- credit
- deposit
4 related to bank cards (adj.)
B1 Intermediate

relating to a bank card that takes money directly from your account.

relating to the immediate transfer of funds from a bank account, specifically regarding payment cards.

Example

I prefer using my debit card because it helps me spend only the money I actually have.

Example

The merchant terminal was configured to accept both debit and credit transactions, though the processing fees for each differed significantly.

Usage

Almost always used as a modifier before 'card'.
- credit

Origin

Borrowed from Middle French debet, from Latin debitum (“what is owed, a debt”), neuter of debitus, past participle of debere (“to owe”); Doublet of debt.