Business / Taxes / Debit: A debit is the opposite of a credit. A debit may be an account entry representing money you owe a lender or money that has been taken from your account. For example, your bank debits your checking account for the amount of a check you've written, and your broker debits your investment account for the cost of a security you've purchased. Similarly, a debit card authorizes the bank to take money out of your bank account electronically, either as cash or as an on-the-spot payment to a merchant. That's different from a credit card, which authorizes you to borrow the money from the card issuer.
Business / Finance / Customers Net Debit Balance: Agreement signed by a margin customer that allows a broker to borrow margined securities up to the level of the customer's debit balance to help cover other customers' short positions. MORE
Business / Finance / Debit Balance: A type of stock that makes fixed payments at scheduled intervals of time. Debenture stock differs from a debenture in that it has the status of equity, not debt, in liquidation. MORE