Meaning of debit account | Babel Free

Definitions

1. An account in which credits (money owed to the business) exceed debits (expenses).
2. An account in which debits exceed credits.
3. An account with a bank or store, in which the account holder deposits money that can later be drawn on to make purchases.

Equivalents

Examples

“If the entries on the left hand exceed in amount the entries on the right hand, the account is a debit account or an asset, and its value is the excess.”

“For two months past the Director has had personally to meet deficiencies in the working expenses of the Institute and so our semi-annual account stands with a few dollars to the debit account.”

“By choosing this option at the time of creating the account or later by upgrading the regular account to this option, a customer can open a debit account with the storefront and, after depositing some money, use this money to settle the account instead of providing and verifying credit card information on each purchase.”

“You go to the bank and set up a debit account. You will get a debit account checkbook, and a debit card. You can use either one when you shop.”

“A debit account with “courtesy overdraft” would allow a consumer to exceed the available balance, but the consumer would be charged a fee (often $25 to $30) and required to remediate the overdraft quickly.”

CEFR level