debit memorandum

Definition

(1) A notification to an account holder from a financial institution about a charge against an account, like a service fee for insufficient funds. (2) During a sales transaction, the vendor may notify the other party about extra charges on the original purchase agreement.

Use debit memorandum in a sentence

We were a bit surprised when we checked our mail and found the debit memorandum, as we thought we had everything covered for the month.

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He received a debit memorandum in the mail, as he had overdrawn his business account due to the fact that one of his receivables checks had not cleared in time.

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Becky didn't even open the notices anymore, since she recognized the blue paper of the debit memorandum for her NSF check through the window of her bank's envelopes.

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debit column debit note