Withdrawal

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Related to Withdrawl: Withdrawal syndrome, withdrawal method

Withdrawal

A transaction in which a customer receives back money he/she had previously deposited at a bank, pension, or trust. When one makes a withdrawal on a pension or similar plan, it may carry a penalty depending on the pension's rules. For example, one must usually be of a certain age in order to make a withdrawal. There is rarely such a penalty when making a withdrawal from a bank. For instance, when one closes an account, the client makes a withdrawal on all the money he/she owns at that bank.

Withdrawal.

A withdrawal is money you take out of your banking, brokerage firm, or other accounts.

If you withdraw from tax-deferred retirement accounts before you turn 59 1/2, you may owe a 10% early withdrawal penalty plus any income tax that's due on the amount you've taken out.

In everyday usage, the term withdrawal is used interchangeably with distribution to describe money you take from your tax-deferred accounts, though distribution is actually the correct term.

References in periodicals archive ?
Earlier, speaking at a Christian Science Monitor Magazine Breakfast meeting, Ambassador Jilani noted the situation in Afghanistan is still challenging and the decision of withdrawl of US troops should be taken in view of ground realities in Afghanistan.
Banks received a bye to the semi-finals following the withdrawl of Northallerton.
This ongoing operation not only eliminating terrorists from Pakistan, but also contain the precarious situation that would craft after USNATO forcesa[euro](tm) withdrawl from Afghanistan.
The RMT union is participating in putting up candidates to demand withdrawl from EU on the basis of fighting austerity.
1 ( ANI ): Pakistan would be receiving surplus armoured vehicles and other military equipment from the United States post Afghan withdrawl later this year.
The withdrawl came when Provincial Ministers Pir Mazharul Huq and Agha Siraj Durrani assured that he would get a Master Plan for his district.
WITHDRAWL Steve Finnan has been hit with new injury
Davies was sent off for allegedly head butting an opponent in Tuesday night's Carling Cup win over Rochdale, prompting Oldham Athletic to request his withdrawl from the friendly with Georgia at Swansea's Liberty Stadium on August 20.
The Sussex decision to sack Greig is likely to lead to the withdrawl of proposals to throw Sussex out of county competition and it will unite all the clubs in their battle with Packer.
And the occasional megastar can still get carried away with a bad dose of football withdrawl symptoms.
RUGBY UNION: Changes could be made to Durham Rugby's Senior Cup competition after Blaydon were awarded last year's prize by default following Westoe's withdrawl from a start-of-season replay.
They were joined by colleagues from public sector union Unison in what was thought to be the biggest withdrawl of labour since the General Strike.