Debit Memorandum Law and Legal Definition

Debit Memorandum can be either a form or document given by the bank to a depositor to notify that the depositors balance is being decreased due to some event other than the payment of depositor originated check, e.g. bank service charges. It also denotes a form of document used by a seller to notify a buyer that the seller is debiting (increasing) the amount of the buyers accounts payable due to errors or other factors requiring adjustments.