In plain English
A fee is an extra amount of money you have to pay. Here, that amount is charged because money is being taken out of an account.
In context
Here, "withdrawal fee" names the charge connected with taking money out of the account.
- Situation
- Sending transfers, receiving payouts, withdrawing funds, and reading wallet balances
- What it communicates
- Labels the charge applied to the withdrawal.
Meaning limits
The term alone does not say how much the charge is or whether it varies.
Examples
“When Maya withdrew $40, her account was charged a $3 withdrawal fee.”
“Small cash withdrawals become expensive when the withdrawal fee is almost as high as the amount taken out.”