Dictionary of Banking Terms: withdrawal
withdrawal
- taking funds out of a deposit account by writing a check, draft, or withdrawal slip in the case of a time deposit or savings deposit. Certain time deposits and certificates of deposit require a notice of withdrawal before funds are withdrawn in cash or transferred to another account. These may also be subject to an early withdrawal penalty or forfeiture of interest.See also Regulation Q
- substituting new collateral securing a collateral loan, allowing the borrower to take back the original collateral pledged.
Dictionary of Business Terms: withdrawal
withdrawal
removal of money or the like from the place where it is kept, such as a bank or mutual fund.
