Withdrawing from a savings account

So now you know how to deposit money into a savings account. Simple? But how do you take money out?

It’s pretty much the same steps as making a deposit, except you use a different bank slip. The slip is called a withdrawal slip because you’re taking money out, or making a withdrawal, from your account.

Withdrawal slip

Print out the withdrawal slip and enter:

  • Your name
  • The date
  • The account number
  • The amount to withdrawal in words (on the “dollars” line)

Then, you would sign it in the presence of a bank teller.

Once you’ve signed and shown the teller your photo ID, the teller will process your withdrawal and give you the money and a receipt.

If you withdraw money using an ATM, your withdrawal will usually need to be in multiples of $20, such as $20 or $40. But if you make a withdrawal using a teller, you can withdraw any dollar amount you like. Once again, be sure to keep your receipt!

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