Meaning of words
What does 'debited' mean?
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What does 'debited' mean?
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When an amount is debited from an account, it means that the amount has been deducted or removed from the account. This typically happens when:
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You make a purchase : Using a debit card or writing a check results in a debit to your account.
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You withdraw cash : Taking money out of an ATM or bank teller.
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You pay a bill : Setting up automatic payments that will debit money from your account each month.
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Fees are charged : Banks may debit your account for service fees.
In summary, a debit reduces the balance of an account. In accounting terms, it records an increase in assets or a decrease in liabilities/equity.