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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.
I agree With , Mr. Abubakar Mohammed Iqbal answer
& MR MOHAMED ALI KHAN
I think the answers provided by the other gentlemen are adequate.
when a debit has posted to a checking account it means decrease a checking account balance.
I agree With answer. Mr/ Mohammed Iqbal
That means an amount has been withdraw from your account.
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.
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.
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.
