Which term is used for the act of taking money out of an account?

The term that refers to the act of taking money out of an account is "withdrawal." This term specifically denotes the action where funds are removed from a bank account, whether it be through an ATM, bank branch, or electronic transfer.

Understanding this term is crucial because it contrasts with related financial actions. For example, "deposit" refers to adding money into an account, while "transfer" involves moving money between different accounts rather than removing it. "Investment," on the other hand, involves allocating resources, often money, to generate a profit or income over time, which does not directly imply taking money out of an account. Thus, "withdrawal" is the precise term used to indicate the removal of funds, making it the correct answer.