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A monetary amount that is subtracted from an account balance. A debit from one account is a credit to another. See credit.



the left side of bookkeeping accounts. All economic operations are recorded as a debit in one account and as a credit in another. In active accounts, debit designates an increase in recorded sums; in passive accounts, it designates a decrease. Thus, in active property accounts, which serve as a record of the movement of commercial-material values, a debit shows the value of goods on hand at the beginning of the year and the receipt of goods during the reporting year. In active settlement accounts, debit refers to the payments due from debtors at the beginning of the year and their increase during the course of the year; in passive settlement accounts. it is the settling of debts owed to creditors.

References in periodicals archive ?
But consumers should exercise some caution with debit cards as well.
Like Visa's credit cards, UJB Financial's Visa brand debit card is accepted at some 11 million Visa locations worldwide.
Credit card companies have long been trying to augment their customer base as more banks take to the debit card business.
Rhode cautions that debit cards, which have only been in use for nine years, haven't built the same credit worthiness in the industry as credit cards because transactions sometimes take longer to post, and some merchants don't always check for sufficient funds.
For example, if the transaction solely involves an extension of credit, and does not include a debit to a checking account (or other consumer asset account), the liability limitations and error resolution requirements of Regulation Z apply.
The resource provider debits an asset and credits an asset or payable.
Under the ACH Debit method, Form 9779 allows taxpayers to set a threshold for each tax type.
Debit Card Conversations: Helpful news and information
The Discover Debit program provides financial institutions with an uncomplicated approach to signature debit supported by an experienced team that works behind the scenes to ensure a seamless implementation and reissue process.
Prepaid debit cards have gained popularity in recent years, especially as retailers and even Visa invest in the concept of gift cards.
The Board of Governors appreciates this opportunity to comment on issues concerning debit cards that can be used without security codes (sometimes referred to as "check cards" or "off-line" debit cards).
1) What are the economics of online debit now that rates are out?