Answer: Network Withdrawal
NWD (Network Withdrawal) is a concept connected to banking. In comparison to the withdrawal made from your bank’s Automated teller machine, the charge paid for an NWD is usually greater.
- Any kind of transaction that is withdrawn from an Automated teller machine is NWD.
- Private banks such as HDFC Bank use different terminology in its banking network including OWD, EAW, ATS, NWD, ATW, AWB & NFS for automated ATM transactions for bank ATMs.
- So it will mean ATW on the statement when one heads to withdraw cash from any HDFC Bank ATM.
- Whereas when one heads to any other ATM other than HDFC Bank ATM, it will be listed as an NWD transaction.
- However, it’s different for different banks.