- draw
- draw draw [drɔː ǁ drɒː] verb drew PASTTENSE [druː] drawn PASTPART [drɔːn ǁ drɒːn] [transitive] BANKING1. also draw out to take money from your bank account:
• Many credit cards can now be used to draw cash from ATMs around the world.
• All the money in his account has been drawn out.
2. to receive an amount of money regularly from your employer or from the government:• In the first year of the partnership, Jenny drew a salary of £30,000.
• You are entitled to draw unemployment benefit.
• I'll draw a cheque on the company account.
4. to write a bill of exchange:• Bills are drawn by the exporter on the issuing or confirming bank.
1. to obtain money as part of a loan that has already been agreed, or to use money that has been saved:• He drew down the final $25 million of the Bankers Trust loan.
• A lot of Japanese people will soon reach retirement and begin to draw down their life savings.
2. to use something that has been reserved or stored:• Consuming nations should draw down their high oil inventories before asking OPEC to produce more.
draw something → up phrasal verb [transitive]to write out or prepare an agreement, list, plan etc:• The chairman had drawn up an agenda.
• The first thing you need to do is draw up a business plan.
• Our selection committee drew up the list of candidates.
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Ⅰ.draw UK US /drɔː/ verb [T] (drew, drawn)► (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.
Ⅱ.draw UK US /drɔː/ noun [C]► someone or something that attracts a lot of people: »With an ice rink and indoor turf field, the complex has been popular and a draw for out-of-town visitors.
a big/huge draw »As in China, the big draw is India's massive and lucrative domestic market potential.
► [usually singular] an act of using some of the supply of something, especially oil or gas, or the amount that is used: »Oil prices continued to rise yesterday amid fears that figures from America will show another big draw on stocks.
► something that uses up part of a supply of something: »The training program is a draw on all our resources.
Financial and business terms. 2012.
