What is NWD Transaction in Bank Statement?

By Esha Dhawan|Updated : August 29th, 2022

NWD full form stands for Network Withdrawal which is an important banking concept. It denotes the situation where you withdraw money from an ATM or Automated Teller Machine of another bank. In contrast to when you withdraw money from your own bank’s ATM, the NWD is typically greater. Also, when you withdraw money from another bank’s ATM, the bank statement indicates that it is an NWD transaction.

Answer:

NWD means Network Withdrawal which refers to the situation when one withdraws money from another bank’s ATM

Furthermore, if you withdraw money from your own bank’s ATM, the bank statement will indicate it as an ATW transaction. The terms NWD and ATW are generally used by private banks. Also, the NWD charges typically start at Rs 25, yet, not every account is charged for these transactions.

Summary:

What is NWD Transaction in Bank Statement?

NWD stands for Network Withdrawal in bank statements. It is a concept used to refer to the situation where one withdraws money from another bank's ATM. As a result, you will have to pay an extra charge from Rs 25 onwards, and the bank statement will mention the NWD transaction.

 

☛ Related Questions:

Comments

write a comment

SSC & Railway

CGLSSC GDDFCCILCHSLCPONTPCMTSStenoGroup DDelhi PoliceOthersCoursesMock Test

Follow us for latest updates