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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
For instance, Pitruzzello pointed to the withdrawl of such cox-2-inhibiting nonsteroidal anti-inflammatory drugs as Vioxx and Bextra.
The news of Goldman Sachs' withdrawl came as BAA had reported that 12.8 million passengers had passed through its terminals in May.
Altrincham have appealed against their 18-point deduction, which would effectively relegate them' Scarborough insist they can escape demotion by raising the necessary money to come out of liquidation' while Canvey Island could drop out due to their financial plight following the withdrawl of their key financial backer, manager Jeff King.
The fourth edition adds a chapter on venipuncture for blood withdrawl. The included CD-ROM contains case studies and practice questions.
SP columnist O'Sullivan is a star attraction wherever he plays and his withdrawl will be a major headache for organisers, as snooker returns to the People's Republic for the first time in three years.
Mrs Pearson, also national secretary for the Troops Out Movement, which calls for the British Army's withdrawl from Ulster, added: 'We condemn the terrorist attacks in the United States and mourn the loss of innocent lives.
A two by two table was constructed comparing online and offline students with "success "(earning a passing A-D grade) and "failure" (F or Withdrawl.) The chi-square value was 40.28.
Nonetheless, Phillips' sudden withdrawl has caused a certain amount of concern about whether the company was too hasty.
Lahore -- The Lahore Chamber of Commerce and Industry (LCCI) has termed the withholding tax on banking transaction 'economic intimidation' for the business community and called for its immediate withdrawl.
She now has a specialist role in the Withdrawl of Care and Bereavement unit, as well as caring for seriously ill babies.
Jones& Co have always denied commercial coercion in their demands in the use of Welsh by institutes and companies but in this instance this type of lever will inevitably be used under threat of funding withdrawl.
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.