Withdrawal

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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 classic literature ?
demanded the commissionaire, very innocently, as to appearance at least.
A narrow space, however, was reserved in front of the dwelling, upon the summit of this pile of stones(called by the natives a 'pi-pi'), which being enclosed by a little picket of canes, gave it somewhat the appearance of a verandah.
The carpet - of Saxony material - is quite half an inch thick, and is of the same crimson ground, relieved simply by the appearance of a gold cord (like that festooning the curtains) slightly relieved above the surface of the ground, and thrown upon it in such a manner as to form a succession of short irregular curves - one occasionally overlaying the other.
He rattled and clanked a little, as he moved, but in the main he seemed to be most cleverly constructed, and his appearance was only marred by the thick coating of polishing-paste that covered him from head to foot.
Don't talk to me about personal appearances, sir," cried Mrs.
But the first appearance of Old Sharon--as dirty as ever, clothed in a long, frowzy, gray overcoat, with his pug-dog at his heels, and his smoke-blackened pipe in his mouth, with a tan white hat on his head, which looked as if it had been picked up in a gutter, a hideous leer in his eyes, and a jaunty trip in his walk--took her so completely by surprise that she could only return Moody's friendly greeting by silently pressing his hand.
She had altered sadly for the worse in her personal appearance, since the memorable day when Doctor Wybrow had seen her in his consulting-room.
An interest of a new kind was excited by the appearance of the next witness.
Some of the large craters present the same appearance.
On the slow and successive appearance of new species -- On their different rates of change -- Species once lost do not reappear -- Groups of species follow the same general rules in their appearance and disappearance as do single species -- On Extinction -- On simultaneous changes in the forms of life throughout the world -- On the affinities of extinct species to each other and to living species -- On the state of development of ancient forms -- On the succession of the same types within the same areas -- Summary of preceding and present chapters.
This little town, before its harbour was filled up, was the principal place in the island: it now presents a melancholy, but very picturesque appearance.
Since then, as philosophers prove, appearance tyrannizes over truth and is lord of happiness, to appearance I must devote myself.