Money and banking / B2

DEB-it/ˈdebɪt/

A debit is a sum taken from a bank account; as a verb, to take that sum (opposite of credit): a direct debit; debit the account. Withdrawal is everyday; charge is related. A debit on the statement still needs the £ figure and the date. Mix-up: debit vs debt; credit (the opposite); do not write debit for a debt of honour with no account line.

Meaning

A sum taken from a bank account; as a verb, to take that sum (opposite of credit).

Examples

• “A debit on the statement still needs the £ figure and the date, the accounts paper said.”
• “A direct debit featured in the household-budget table, which is the regular-payment sense — still name the payee.”

Good to know

a debit / direct debit; debit the account; debit card. Opposite: credit. Close: withdrawal / charge. Trap: debt. Accounts and citizenship. Money taken from an account — quote the £ and the date.

Near in meaning

withdrawal, charge, deduction

Topics

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