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Debit |
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Debit An expense, or money paid out from an account. A debit transaction is one which the net cost is greater than the net sale proceeds. See also Credit.
Debit. A debit is the opposite of a credit. A debit may be an account entry representing money you owe a lender or money that has been taken from your account. For example, your bank debits your checking account for the amount of a check you've written, and your broker debits your investment account for the cost of a security you've purchased. Similarly, a debit card authorizes the bank to take money out of your bank account electronically, either as cash or as an on-the-spot payment to a merchant. That's different from a credit card, which authorizes you to borrow the money from the card issuer. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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18) In the following discussion, all these means of debiting accounts are referred to collectively as account debits. This report presents the results of field research conducted to better understand consumer preferences for various electronic bill payment timing methods, in order to determine how changes in the timing of payment debiting would affect adoption levels and providers' profits. We will integrate EuroDebit Systems' debiting capabilities into our PowerCash21(TM) platform. |
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