What is debit transfer?

A debit transfer is a financial transaction that allows funds to be moved directly from one bank account to another, typically initiated by the account holder. This process often involves the use of electronic payment systems, such as direct debit or ACH (Automated Clearing House) transfers. Debit transfers are commonly used for paying bills, transferring money between accounts, or making purchases. They differ from credit transfers, where funds are added to an account rather than withdrawn.