Withdrawal

The removal of funds from a bank, savings, or investment account, as allowed by the terms and conditions of that account.

More Details

A withdrawal is the act of removing funds from a bank account or financial institution. This can be done in person at a bank branch or ATM, or it can be done electronically through online banking or mobile banking. Withdrawals are typically made using cash, but in some cases, they can also be made using a check or debit card.

Example

You want to withdraw $200 from your savings account at the credit union. You go to the credit union and tell the teller that you want to withdraw that amount from your account. The teller will then process the withdrawal and give you the cash. Alternatively, you could log in to your online banking account and initiate a withdrawal from there, or use your credit union's mobile app to make the withdrawal from your smartphone.

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