What is a memo debit on my bank statement?

Answer Banks use memo debits, also known as a debit memos, to keep track of transactions that have not been completely processed. These memo debits withdraw money from the customer's bank account, holding... Read More »

Top Q&A For: What is a memo debit on my bank statement

What Is a debit memo?

According to, a debit memo serves one of two purposes. In business, it notifies a buyer that his account balance has increased based on errors or adjustments. In banking, a debit me... Read More »

What Does Debit Memo Mean?

Debit memos mean different things, depending on context. A memo is usually a reminder, or an adjustment to a running balance. Debit memos can occur in business or in personal financial transactions.

What Is a Force Pay Debit Memo?

A force pay debit memo is a classification the bank assigns to a transaction to ensure it will be processed first, regardless of funds available. For example, a transaction marked force pay debit w... Read More »

Can You Withdraw From Your Own Bank Account Without Withdrawal Appearing on Your Bank Statement?

Your bank records your bank withdrawals on monthly statements. If you bank with an institution that provides online banking, withdrawals are also visible as they post, though this information is on... Read More »