From Longman Dictionary of Contemporary Englishdebitdeb‧it1 /ˈdebɪt/ noun [countable] 1 technicalBFBBFB a decrease in the amount of money in a bank account, for example because you have taken money out of it OPP credit → direct debit2 technical a record in financial accounts that shows money that has been spent or that is owed OPP credit3 → on the debit side
Examples from the Corpus
debit• It's simple to do this now by filling in the direct debit and covenant on the back of the donation form.• Direct debits or standing orders are liable to make money disappear from your account stealthily, which may be very confusing.• Direct debits, standing orders and debit-card payments are cleared entirely by computer.• Every debit must have a corresponding credit and vice-versa.• From the national viewpoint there are some credits and one massive debit.• Page 33 Switch applications: Barclays and Lloyds banks have applied to join the Switch debit card network.• On the debit side, he frustratingly falls short of any overarching analysis.debitdebit2 verb [transitive] technical 1 BFBBFBto take money out of a bank account OPP creditdebit something from something The sum of £25 has been debited from your account.2 to record in financial accounts the money that has been spent or that is oweddebit something against/to something Purchases are debited against the client’s account.→ See Verb tableExamples from the Corpus
debit• The amounts are variable and are to be debited annually.• What I found particularly worrying was that the money was debited from the account without even informing me.• How can they debit my account without me signing anything?• It shows that the customer has debited the seller's account with the value of the goods returned.• The total sum is then debited to your Current Account.• The appropriate fee should either accompany the application form, or will be debited to your firm's credit account where appropriate.• Under a Direct Debit, you authorise us to debit your Current Account with the cost when each bill is due.• Please authorise us to debit your account and, where possible, give a day-time telephone number in case of query.debit something from something• The sum of $50 has been debited from your account.From Longman Business Dictionarydebitdeb‧it1 /ˈdebɪt/ noun [countable]1BANKINGa decrease in the amount of money in a bank account, for example when a payment is made from it → see also direct debit2the debit sideACCOUNTING the left-hand side of each account in DOUBLE-ENTRY BOOKKEEPING, the side used for decreases in liabilities or REVENUEsEvery time an entry is made on the debit side, another entry of equal value must be made on the credit side somewhere in the books.3ACCOUNTING an amount recorded on the debit side of an accountIn the plant accounts there is a debit which supports the balance-sheet item. → opposite credit1debitdebit2 verb [transitive]1BANKINGto take money out of a bank accountdebit something from somethingThe fee will be automatically debited from your account.The money was debited from my account without even informing me. → opposite credit12ACCOUNTING to record an amount on the debit side of an account in DOUBLE-ENTRY BOOKKEEPINGNote that as the principal repayment reduces the loan outstanding so it is debited to that account. → opposite credit1→ See Verb tableOrigin debit1 (1400-1500) Latin debitum “debt”; → DEBT 