withdrawal fee

USAGE SUMMARY

The term 'withdrawal fee' is correct and usable in written English.
It refers to a fee that is imposed when a person withdraws money from a bank or other financial institution. For example, "A $5 withdrawal fee will be charged for each withdrawal from your savings account."

✓ Grammatically correct

News & Media

Science

Wiki

Human-verified examples from authoritative sources

Exact Expressions

19 human-written examples

If you withdraw cash you'll pay an additional withdrawal fee of around 2 per cent, usually with a minimum charge of about £1.50 to £2.

Independent

Most cards also charge a cash withdrawal fee too.

Independent

That invoice for £344 has been cancelled and, because of the inconvenience caused, the invoice for £189 in respect of the withdrawal fee will also be cancelled.

The Guardian - Money

The A.T.M. withdrawal fee alone -- generally 105 yen, or about 79 cents -- would wipe out a year's interest earnings on 100,000 yen ($754).

The New York Times

Caxton FX has no cash withdrawal fee on its Global card, but charges $3 on its dollar card and €2 on the euro card.

The Guardian - Money

For example, Lloyds and TSB customers pay a 2.99 per cent loading fee, a 2 per cent cash withdrawal fee and a £1 purchase fee, while Santander debit cardholders pay 2.75 per cent, 1.5 per cent (at least £1.99) and £1.25 respectively.

Independent

Human-verified similar examples from authoritative sources

Similar Expressions

41 human-written examples

Not only that, but you also get keener exchange rates than exchange bureaux and lower withdrawal fees.

The Guardian - Travel

Traveller's cheques are essentially a way of sidestepping ATM withdrawal fees and carrying cash with a built-in insurance policy.

Independent

Some charge fees for checking the balance on the card, others charge high withdrawal fees, and the most callous even charge an "inactivity fee" when the recipient doesn't use the card.

The New York Times

The Link network of ATMs was forced last month to promise not to double-charge customers for withdrawals, and to inform them in advance of withdrawal fees.Even so, Mr Cruickshank thinks that more oversight is needed.

The Economist

Most credit and debit cards have a foreign conversion fee of around 2.99% when they are used for purchases, as well as minimum cash withdrawal fees of between £2.50 and £3.

The Guardian - Money

Expert writing Tips

Best practice

When discussing financial products, clearly state the "withdrawal fee" upfront to avoid misleading users. Transparency is key in financial communication.

Common error

Don't assume a "withdrawal fee" is the only cost involved. Other charges like transaction fees or service charges may also apply. Always clarify all applicable fees.

Linguistic Context

The phrase "withdrawal fee" functions as a noun phrase, specifically a compound noun. It identifies a specific type of charge. As Ludwig AI explains, it indicates that a fee is imposed when money is withdrawn. Many examples in Ludwig are financial news articles.

Expression frequency: Common

Frequent in

News & Media

60%

Wiki

20%

Science

20%

Less common in

Formal & Business

0%

Encyclopedias

0%

Social Media

0%

Ludwig's WRAP-UP

The term "withdrawal fee" is a common and grammatically sound noun phrase that denotes a charge for taking money out of an account. Ludwig AI confirms its correctness and usability. It appears most frequently in news and media, as well as in wiki articles, indicating its relevance in both formal and informal contexts. When communicating about financial products, clarity is paramount, hence clearly communicating every "withdrawal fee" is a best practice. Alternatives like "cash withdrawal charge" exist, but the core meaning remains consistent. Be aware of the potential for confusion with other fees; always seek full fee transparency.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

cash withdrawal charge

Replaces 'fee' with 'charge', which is a direct synonym in this context.

account withdrawal fee

Specifies that the fee is for withdrawing from an account.

transaction fee for withdrawals

Specifies the fee as being transaction-based.

cash access fee

Focuses on accessing cash, implying a withdrawal.

early withdrawal penalty

Specifies that the fee applies to early withdrawals, adding a condition.

fee for accessing funds

Slightly broader, referring to accessing funds in general.

fee to take out money

Informal, direct alternative.

fund redemption fee

Applies specifically to redeeming funds from an investment.

funds disbursement fee

More formal, implies the fee is for disbursing funds.

service charge for fund access

More formal and broader; implies a fee for accessing funds.

FAQs

How is a "withdrawal fee" different from an ATM fee?

A "withdrawal fee" is generally charged by your bank for taking money out of your account, while an ATM fee is charged by the ATM owner, particularly if it's not your bank's ATM. You might incur both fees in a single transaction.

What alternatives are there to the term "withdrawal fee"?

You can use alternatives like "cash withdrawal charge", "transaction fee for withdrawals", or "service charge for fund access" depending on the context.

When does an "early withdrawal penalty" apply?

An "early withdrawal penalty" typically applies when you take money out of a time-deposit account (like a CD) or a retirement account before a specified date or age. This is different from a standard "withdrawal fee", which applies to any withdrawal.

Is a "withdrawal fee" tax deductible?

Generally, a standard "withdrawal fee" is not tax deductible. However, fees associated with certain retirement accounts might have different rules, so consult a tax professional for specific advice.