What Is the Definition of Withdrawal Slip?

A withdrawal slip is a bank document on which the date, account number, and amount of cash to be withdrawn from a bank are written. It is termed a withdrawal slip because it is used to withdraw money from an individual’s bank account. It contains essential information that permits the bank to maintain an accurate record of the withdrawal and provide the requested amount.

It is essential to write correct and legible information on the withdrawal sheet to guarantee proper withdrawal. A person obtains an official bank withdrawal slip at the bank branch where funds were deposited; the bank’s name is clearly printed on the slip. When completing a withdrawal paper, one writes his whole name, including middle initial. If the form requests an address, it is crucial to include the ZIP code. The amount to be withdrawn is displayed below the name. Any variation is expressed as a fraction. If there is no requirement for coin change, a fraction with a zero is included. The bank slip is signed in the presence of a bank teller after completion. Before receiving money, it is common for the bank teller to request identification. The teller performs the withdrawal and hands over the cash with a receipt. Additionally, money can be withdrawn through an ATM.

Joel Gomez
Joel Gomezhttps://www.gadgetclock.com
Joel Gomez is an Avid Coder and technology enthusiast. To keep up with his passion he started Gadgetclock 3 years ago in 2018. Now It's his hobby at the night :) If you have any questions/queries and just wanna chit chat about technology, shoot a mail - Joel at gadgetclock com.

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