What is a withdrawal?
Explore why withdrawal = money out.
In this lesson
What is a withdrawal? is part of Deposits & Withdrawals. This preview shows how banking-basics connects to everyday family decisions such as earning, saving, spending choices, goals, approvals, or parent-guided money conversations inside Progress Penguin.
Think about this money choice
Imagine this situation: Balance: 40000 in local currency. You withdraw 12000 in local currency at an ATM.
How it works
Withdrawal = money out. Deposit = money in. Your balance is the running total of all deposits minus all withdrawals.
Try a real-life example
Real-life money moment: Starting balance 15000 in local currency. Transactions: deposit 10000 in local currency, withdrawal 3000 in local currency, deposit 2000 in local currency, withdrawal 5500 in local currency.
Activity preview
Try one real money action
Open Tasks and submit proof for one task, or open Requests and make a deposit request. Parent approval can happen later.
Quiz preview
A withdrawal means:
Balance: 40000 in local currency. You withdraw 12000 in local currency at an ATM. New balance?