Debiting An Account

Debiting An Account

Debiting An Account

oboloo’s Glossary

Debiting an account is a financial operation that removes funds from a bank account or business ledger. This is typically done as part of a transaction, such as when a customer pays for goods or services with a debit card or when a company withdraws funds to pay suppliers. By debiting an account, the account balance decreases, resulting in less money available for spending or investing. It’s important to understand this concept to stay on top of your finances and ensure that you have enough money available in your accounts.