abheben
to withdraw
To take money out of a bank account, usually at an ATM.
Ich muss noch schnell zur Bank, um Geld für das Wochenende abzuheben.
I still need to quickly go to the bank to withdraw money for the weekend.

to withdraw / take off / pick up
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to withdraw
To take money out of a bank account, usually at an ATM.
Ich muss noch schnell zur Bank, um Geld für das Wochenende abzuheben.
I still need to quickly go to the bank to withdraw money for the weekend.

'Abheben' is a separable verb. The prefix 'ab-' goes at the end of the main clause. In subordinate clauses and in the infinitive with 'zu', the verb stays together.
Ich hebe schnell Geld ab.
I'm quickly withdrawing money.
The verb consists of the prefix 'ab-' (away, from a surface) and 'heben' (to lift). This literal meaning, 'to lift something away from something', helps you understand many of the figurative meanings.
Das Flugzeug hebt vom Boden ab.
The plane takes off from the ground.
In this meaning, the object is almost always 'Geld' (money). The context is usually a bank, an ATM, or an account.
Kann man an diesem Automaten auch Geld abheben?
Can you withdraw money from this ATM too?
When it is about flying, the subject of the sentence is always the flying object itself, for example 'das Flugzeug' (the airplane), 'der Hubschrauber' (the helicopter), or 'der Vogel' (the bird).
Die Maschine nach München ist pünktlich abgehoben.
The flight to Munich took off on time.
This meaning is used only in connection with a phone call. The object 'den Hörer' (the receiver) is often left out when the context is clear.
Warum hebt denn niemand ab? Das Telefon klingelt schon ewig.
Why isn't anyone picking up? The phone has been ringing forever.
In the meaning 'auffallen' (to stand out), the verb is always reflexive and is used with the fixed preposition 'von' + dative: 'sich von etwas/jemandem abheben' (to stand out from something/someone).
Mit seiner kreativen Idee hob er sich von allen anderen Bewerbern ab.
With his creative idea, he stood out from all the other applicants.
When a person 'abhebt' (gets arrogant) or 'abgehoben ist' (is arrogant/out of touch), it means colloquially that they have become arrogant and lost touch with reality. This meaning is often negative.
Seit seinem Erfolg wirkt er auf mich ziemlich abgehoben.
Since his success, he seems pretty arrogant to me.
to accept / assume
'annehmen' and 'abheben' can both be used with a phone call. 'annehmen' generally means that you accept an offer or a call. When talking about the phone, 'abheben' specifically means that you pick up the receiver or answer the call on the device. With modern phones, people often say 'den Anruf annehmen' (to accept/answer the call) or 'ans Telefon gehen' (to answer the phone). 'abheben' fits especially when the action on the phone is meant. There is a risk of confusion because both can mean that you respond to a call.

Als das Telefon klingelte, hob Paul sofort ab.
When the phone rang, Paul picked up right away.
Meine Freundin nimmt den Anruf nicht an, weil sie gerade im Zug sitzt.
My friend is not answering the call because she is on the train right now.