"Credited by account" refers to a transaction where funds are added to a specific account. This typically occurs when someone or something deposits money into the account, or when a payment is made towards a debt that is linked to that account.
Here are some examples of how "credited by account" might be used:
- Direct Deposit: When your employer deposits your paycheck into your bank account, this is considered a credit by account.
- Payment Towards Loan: When you make a payment on your car loan, the money goes towards reducing the principal balance. This payment would be credited to your car loan account.
- Online Purchase: When you buy something online using your credit card, the purchase amount is credited to your credit card account.
The specific meaning of "credited by account" can vary depending on the context. However, it generally refers to an increase in funds within a specific account.
