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Credited v accredited

Don't say that: 

Don't say "accredited" when you mean "credited." We found this error in a financial document.

Do say this: 

Do say "credited" when you mean money has been added to an account.

Why?: 

The incorrect sentence was "we have accredited your account..."

No. The account has been "credited" which means a sum of money has been added to the account, so increasing the amount "standing to the credit of the account".

"Accredited" means something entirely different - it means that something has achieved recognition from someone who holds a position of authority and can make a statement recognising an official status. In this context, "credit is given" in the sense that there is recognition.

Accredited has nothing to do with borrowing money (e.g. she gave him credit of one hundred widgets).

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