English

Definition of debit verb from the Oxford Advanced Learner's Dictionary

 

debit

 verb
verb
BrE BrE//ˈdebɪt//
 
; NAmE NAmE//ˈdebɪt//
 
Verb Forms present simple I / you / we / they debit
BrE BrE//ˈdebɪt//
 
; NAmE NAmE//ˈdebɪt//
 
he / she / it debits
BrE BrE//ˈdebɪts//
 
; NAmE NAmE//ˈdebɪts//
 
past simple debited
BrE BrE//ˈdebɪtɪd//
 
; NAmE NAmE//ˈdebɪtɪd//
 
past participle debited
BrE BrE//ˈdebɪtɪd//
 
; NAmE NAmE//ˈdebɪtɪd//
 
-ing form debiting
BrE BrE//ˈdebɪtɪŋ//
 
; NAmE NAmE//ˈdebɪtɪŋ//
 
 
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debit something when a bank debits an account, it takes money from it The money will be debited from your account each month. opposite credit The bank will debit your account with any withdrawals made using your payment card. CollocationsFinanceIncome earn money/​cash/(informal) a fortune make money/​a fortune/(informal) a killing on the stock market acquire/​inherit/​amass wealth/​a fortune build up funds/​savings get/​receive/​leave (somebody) an inheritance/​a legacy live on a low wage/​a fixed income/​a pension get/​receive/​draw/​collect a pension depend/​be dependent on (British English) benefits/(North American English) welfare/​social securityExpenditure spend money/​your savings/(informal) a fortune on… invest/​put your savings in… throw away/​waste/ (informal) shell out money on… lose your money/​inheritance/​pension use up/ (informal) wipe out all your savings pay (in) cash use/​pay by a credit/​debit card pay by/​make out a/​write somebody a/​accept a (British English) cheque/(US English) check change/​exchange money/​currency/(British English) traveller’s cheques/(US English) traveler’s checks give/​pay/​leave (somebody) a depositBanks have/​hold/​open/​close/​freeze a bank account/​an account credit/​debit/​pay something into/​take money out of your account deposit money/​funds in your account withdraw money/​cash/£30 from an ATM, etc. (formal) make a deposit/​withdrawal find/​go to/​use (especially North American English) an ATM/(British English) a cash machine/​dispenser be in credit/​in debit/​in the black/​in the red/​overdrawnPersonal finance manage/​handle/​plan/​run/ (especially British English) sort out your finances plan/​manage/​work out/​stick to a budget offer/​extend credit (to somebody) arrange/​take out a loan/​an overdraft pay back/​repay money/​a loan/​a debt pay for something in (especially British English) instalments/(usually North American English) installmentsFinancial difficulties get into debt/​financial difficulties be short of/ (informal) be strapped for cash run out of/​owe money face/​get/ (informal) be landed with a bill for £… can’t afford the cost of…/payments/​rent fall behind with/ (especially North American English) fall behind on the mortgage/​repayments/​rent incur/​run up/​accumulate debts tackle/​reduce/​settle your debts Word Origin late Middle English (in the sense ‘debt’): from French débit, from Latin debitum ‘something owed’, past participle of debere ‘owe’. The verb sense dates from the 17th cent.; the current noun sense from the late 18th cent.Extra examples The bank will not debit your account without your written permission. The money will be debited from your account. Your current account is automatically debited with the amount of your purchase.
See the Oxford Advanced American Dictionary entry: debit

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