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

An accounting entry that results in an increase in assets or a decrease in liabilities or owners' equity. Compare 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.

debit

  1. n. a means of charging (in DOUBLE-ENTRY ACCOUNTS) for services rendered by a firm. This is done by making an accounting entry which records the value of GOODS or SERVICES supplied by the company in the company's account of the customer for these goods and services. A debit entry in a company's DOUBLE-ENTRY ACCOUNTS represents either an increase in the company's assets or a decrease in its LIABILITIES.
  2. v. to enter the value of goods or services supplied to a customer in the supplying company's account of that customer. See CREDIT, definition 2.

debit

(1) On a closing statement for a real estate sale, an item that is charged to a party. (2) In accounting,an entry that appears on the left side of the page.It is the opposite of a credit.In accounting,a credit does not necessarily indicate more money and a debit does not necessarily indicate less money or an expense.

References in periodicals archive ?
The number of transactions executed using a debit card increased between those years from 55 million to 120 million per year.
Dolphin Debit Access is a full-service ATM management company that owns and operates ATMs for financial institutions.
DIRECT debits are great for convenience but are a pain when they go bad.
The 2017 Debit Issuer Study is the 12th installment in the study series, commissioned by PULSE and conducted by Oliver Wyman, an independent management consulting firm.
Customers can define a maximum spending limit to allocate to their Virtual Debit Card, the number of times a card can be used online, the ability to activate or deactivate a card, and to delete and re-generate a new Virtual Debit Card at any time.
As part of QIB's commitment to keeping the Bank's customers' accounts and personal information safe and secure, a number of useful security tips to avoid any potential identity theft as well as to stay safe while using debit and credit cards online or abroad have been assembled under the "Security Tips" section on QIB's website.
* Understand how the debit card market in Kazakhstan has performed in the historic period including quantitative data for transactions, value of transactions, cards in use and turnover per card.
The CBE asked banks to carefully track the use of debit cards that have been recently issued to customers, warning them to not suspend any card used normally to avoid unnecessarily halting individual transactions.
Members of the program use their debit cards 17% more per month than regular cardholders do, according to the credit union, though the average spend is about $38 versus $42 for unenrolled cardholders.
* It provides current values for debit card for 2014 and forecast figures for 2019
A few days later - on April 21 - M&S took PS3619.20 out of my Nationwide account via direct debit.
Normalizing reasons is key in allowing a more accurate analysis of why debit memos are issued, which is currently a challenge due to the myriad of diverse reason terms used throughout the industry.