notice of withdrawal Definition | Business Dictionaries from AllBusiness.com

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Business Definition for: notice of withdrawal

notice of withdrawal

written notice of a depositor's intention to withdraw funds from an interest bearing account. Banks may require customers to give notice seven days before withdrawals from time deposit accounts, and also Negotiable Order of Withdrawal (NOW) accounts. Most banks, however, waive the notice requirement in NOW accounts.

negotiable instrument
withdrawal notice

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