Thank Wank - A form of manual sex (stimulation by the hand) given in a gracious display of respect to someone who has done you a favour or otherwise indebted you.
Antonio: Can you get me a discount on this product with your trade account?
Mac: Sure man!
Antonio: Sweet! I owe you a thank wank!
Mac: Awwww yiss!
Alternatively
Antonio: Mac got me a sweet deal this weekend!
Stevo: Word son! You best get that man a thank wank!
Antionio: Way ahead of ya stevo!
Stevo: Finger lickin good!
Noun. The act of engaging in mutual masturbation only, or engage in cybersex, with a partner without actual intercourse taking place.
Verb. To engage solely in mutual masturbation, or engage in cybersex, with a partner and nothing else.
Filbert and I had a wank and thank last night on instant messenger.
Lisa wanked and thanked with her ex-boyfriend after they broke up.