draw

/drɔː/ verb [T] (drew, drawn)

Definition

› (also withdraw) BANKING to get money from a bank or an account so that you can use it: draw money/cash from sth Customers will be charged each time they draw cash from the cash dispensers. The company is now able to draw money from the £10m loan it has negotiated with Royal Bank of Scotland.

› FINANCE to receive money regularly, especially as an employee or from the government: The chief executive drew £1million last year in salary and bonuses. draw a salary/pension

› BANKING to write out a cheque and receive money for it: draw a cheque on an account/a bank Consumers nowadays routinely pay for goods not with cash or cheques drawn on their bank accounts but with credit cards. US Dollar cheques can be accepted if they are drawn on a bank with clearing facilities in the UK.

› FINANCE, COMMERCE to write a bill of exchange (= document used in trade that orders payment for goods or services): draw a bill of exchange on sb Bills of exchange are drawn on buyers and accepted when the seller hands over the bill of lading covering the goods.

(Definition of draw verb from the Cambridge Business English Dictionary © Cambridge University Press)

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