Word
debit
Phoneticsdeb·it
US/ˈdɛbɪt/
UK/dˈɛbɪt/
Definitions
01money taken out
n. an amount of money taken out of a bank account.
n. a sum of money withdrawn from a bank account, representing a reduction in the balance held by the institution.
“The monthly gym membership is a debit that comes out of my account on the first of the month.”
“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.
Synonyms
02accounting entry
n. a record in an account showing money that is owed or has been paid out.
n. an entry in the left-hand column of an account, representing an asset or an expense in double-entry bookkeeping.
“The accountant made a debit in the ledger to show the cost of the new equipment.”
“Under the double-entry system, every debit recorded in the company's ledger must be offset by a corresponding credit entry elsewhere.”
Technical
Usage
In formal accounting, debits must always balance with credits.
Antonyms
03to take money from
v. to take money from a bank account or to record a payment.
v. to remove an amount of money from a bank account or to record a transaction as a debt in an account.
“The shop will debit the total amount from your account within three working days.”
“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).
04related to bank cards
adj. relating to a bank card that takes money directly from your account.
adj. relating to the immediate transfer of funds from a bank account, specifically regarding payment cards.
“I prefer using my debit card because it helps me spend only the money I actually have.”
“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'.
Antonyms
Real-World Examples
“To unlock the offer, students need to pay in £500 and make five debit card payments by 11 December.” “They get debited every time you pass under the cameras, so make sure you check the remaining balance if you drive through a lot of these.” Etymology
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.
Etymology adapted from Wiktionary, available under CC BY-SA 4.0.
Domain
Scan code
englishreference.com/q/debit