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What does it mean when a debit has posted to your checking account?

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Question added by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town
Date Posted: 2014/06/01
Sara Khan
by Sara Khan , financial and admin assistant , Ministry Of Defence

Thanks for inviting me.Sir Abu Bakr already describe it in detail. but my answer is here when debit is posted to my check acoount it means expense incurred.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

 I agree With , Mr. Abubakar Mohammed Iqbal answer

& MR  MOHAMED ALI  KHAN 

HANNA SABA
by HANNA SABA , Team Leader (Administrative Support), including translation, editing, and writing , Deloitte

I think the answers provided by the other gentlemen are adequate.

Khaled Mohee Eldeen Abbas Mahmoud
by Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

when a debit has posted to a checking account  it means decrease a checking account balance.

محمد رشدى محمد
by محمد رشدى محمد , Internal auditor , Intersect For Contracting

I agree With answer. Mr/ Mohammed Iqbal

It means an expense has been incurred.

georgei assi
by georgei assi , مدير حسابات , المجموعة السورية

With the answer, Mr. Abubakar Mohammed Iqbal

Mohsin Ali Chaudhry
by Mohsin Ali Chaudhry , Accounts Officer , CCE - Contracting & Construction Enterprises Ltd.

That means an amount has been withdraw from your account.

Divyesh Patel
by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town

Debits are transactions that involve the deduction of funds from your checking account. Funds are immediately held in your account when you make debit card purchases, but the debits actually post to the account only when the bank completes the day's processing.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

When your Account is debited with the Bank It means:

1. You have made a cash withdrawal from the bank

2. You have effected a fund transfer from your account to a third person and can also relate to a purchase        payment.

3. Your account is debited with some Service/Interest charges by the Bank

4. Bank has set-off some other accounts standing in your name in the bank, as its right to exercise general     lien.

5. The transfer of amount to pay any services/accounts as a part of the Standing Instruction served by you        properly authorising the bank in this respect.

Faraz Sultan
by Faraz Sultan , Audit and Accounts Manager , Abdulla Al Mulla Auditing Of Accounts

It simply means there has been some kind of a charge to your account. It could be withdrawals, an expense charged or anything that reduces your account balance for that matter.

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