What is difference between credit and debit?

[deepak]

I often hear people talking about credit and debit in banking and accounting, but I’m still a bit confused. What exactly is the difference between the debit and credit

 

[Rick_Grimes]

Credit means money going into your account (like a deposit or payment you receive), while debit means money leaving your account (like a withdrawal or purchase).

 

[isabel]

Debit refers to money taken out of the account whereas credit refers to money added to the account or deposited into the account.

 

[Emly]

Credit adds money to your account, while debit deducts money from it.