GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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26% - Moderately

Withdrawal


Synonyms:cash withdrawal, deduct from savings, pull back, taking money out, transfer money out, withdrawing
Acronyms &
abbreviations:
WD
Notes:Bank account transaction code.
Filed Under: bank statements, financial-banking
Tags: banking
 
Broadly associated with: [BMO Financial Group]
Narrowly associated with: [BMO Bank of Montreal]

Definition of withdrawal (WD)

withdrawal (WD)
1. Taking something away or no long taking part in something. As it relates to banking and finance, a withdrawal is when an entity removes money from a bank account or financial instrument.

Related Terms and Acronyms:

  • chequing account   A bank account that allows quick access to the money in the account.
  • deposit   An act of putting a sum of money in to a bank account.
  • early withdrawal penalty   A depositor forfeits interest or is charged a service fee for either withdrawing funds or closing a time deposit before the maturity date.
  • home equity withdrawal (HEW)
  • Tax Instalment Payment Plan (TIPP)   A popular property tax payment plan that allows you to pay your taxes monthly without any penalties or additional charges.

Broad and Narrow Associations

[BMO Bank of Montreal]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • cheque (CK)Definition   A written order for payment of a certain amount of money.
      ➥  Bank account transaction code.
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
  • foreign exchange (F/X, FE, FOREX, FX)Definition   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
  • online debit refund (OV) — Acronym, Low Relevance
[BMO Financial Group]
  • Bank of Montreal (BMO) — Company Est.1817, Canada-wide, Very Important
      ➥  Canada's very first bank. A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages, and reverse mortgages.
  • cheque (CK)Definition   A written order for payment of a certain amount of money.
      ➥  Bank account transaction code.
  • foreign exchange (F/X, FE, FOREX, FX)Definition   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
  • certified cheque (CC)Definition   A cheque that a bank guarantees will clear.
  • Bank of Montreal Mortgage Corporation (BMMC) — Company, Canada-wide
      ➥  A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.

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