Debit: meaning, definitions and examples

Used in banking and accounting to indicate a deduction from an account balance.

• The bank debited my account for the monthly subscription fee.
• She noticed a debit of $50 from her checking account.

Often used in retail and billing when a fee is applied to a purchase or service. Can sometimes imply a negative balance or cost.

• They will charge you an extra fee for late payment.
• She was surprised by the hidden charges on her bill.

Specifically related to taking money out of a bank account.

• I made a withdrawal of $100 from the ATM.
• There was a large withdrawal from her savings account.

Refers to money spent on something, especially in the context of budgeting or financial planning. Usually used in a descriptive context rather than transactional.

• Travel expenses for the business trip were higher than expected.
• You should track your monthly expenses to manage your budget.

Use this term commonly in banking and finance. It refers to the act of recording an amount of money that is taken out from an account, often automatically or electronically.

• The bank debited $100 from my account
• Every month, the phone bill is debited from my checking account

This term is often used in accounting, finance, and tax contexts. It implies the removal of an amount from a total, often for the purpose of calculation.

• You can deduct medical expenses from your taxable income
• The store deducted a discount from the total bill

Typically used in mathematical or everyday calculations, it means taking one number away from another to get the difference.

• If you subtract 5 from 10, you get 5
• The teacher asked the students to subtract the smaller number from the larger one

Commonly used in banking and personal finance. It signifies the act of taking money out of a bank account, usually by visiting the bank or using an ATM.

• I need to withdraw some money from my savings account
• She withdrew $200 from the ATM yesterday