Business Dictionary :
Wire, Withdraw, Withholding Tax and Witness
Wire : noun : telegram
• To send someone a wire
: to send a telegram to (someone)
• He wired the head office to say that the deal had been signed.
(a) to take (money) out of an account
• To withdraw money from the bank
• You can withdraw up to £50 from any bank on presentation of a banker's card.
(b) to take back (an offer)
• One of the company's backers has withdrawn. = He stopped supporting the company financially.
• To withdraw a takeover bid
• The chairman asked him to withdraw the remarks he has made about the finance director.
: withdrawing - withdrew - has withdrawn
: removing money from an account
• Withdrawal without penalty at seven days' notice = money can be taken out of a deposit account without losing any interest, provided that seven days' notice has been given.
• To give seven days' notice of withdrawal
(i) tax which takes money away from interest or dividend before it is paid to the investor
(ii) (US) income tax deducted from the pay check of a worker before he is paid
• The coin box is within the cashier room.
: person who sees something happen
• To act as a witness to a document or a signature = to sign a document to show that you have watched the main signatory sign it
• The MD signed as a witness.
• The contract has to be signed in front of two witnesses.
: to sign (a document) to show that you guarantee that the other signatures on it are genuine
• To witness an agreement or a signature
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