Business Dictionary :

Wire, Withdraw, Withholding Tax and Witness

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Wire : noun : telegram

• To send someone a wire

Wire : verb : to send a telegram to (someone)

• He wired the head office to say that the deal had been signed.

Withdraw : verb :

(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• One of the company's backers has withdrawn.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.

NOTE : withdrawing - withdrew - has withdrawn

Withdrawal : noun : 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

Withholding Tax : noun :

(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

Within : preposition : inside

• The coin box is within the cashier room.

Witness : noun : 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.

Witness : verb : 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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