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What is NWD Transaction in Bank Statement?

Here we will learn about what is meant by NWD Transaction in a bank statement and its importance. Tap to learn more about such interesting topics.

Question: What is NWD Transaction in Bank Statement?

Answer: NWD (Network Withdrawal) is a banking-related term. Generally, the fees associated with an NWD are higher than those associated with ATM withdrawals. NWD refers to any kind of transaction withdrawn from an automated teller machine.

For automated ATM transactions, private banks such as HDFC Bank utilize many terms in their banking networks, including OWD, EAW, ATS, NWD, ATW, AWB, and NFS. Therefore, ATW will appear on the statement when cash is withdrawn from any HDFC Bank ATM.

When using an ATM other than an HDFC Bank ATM, the transaction will be recorded as an NWD transaction. However, various banks have different policies.