Does debit mean paid?
When your bank account is debited, money is taken out of the account. The opposite of a debit is a credit, in which case money is added to your account. Your account is debited in many instances.
What does it mean by in debit?
in debit. BANKING. if a bank account, etc. is in debit, more money has been taken out of it than was originally put into it or paid: These transactions had put his account in debit. debit.
Does Dr mean I owe money?
Overdrawn balance is marked with the letters dr (meaning debit). An overdraft facility fee will apply per annum or per overdraft sanction (whichever is the more frequent). Credit Transfer – This is a manual lodgement to your account from a branch or bank other than the account holding branch.