Negotiable Order of Withdrawal account

Encyclopedia : N : NE : NEG : Negotiable Order of Withdrawal account

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In the United States, a Negotiable Order of Withdrawal account (NOW account) is a deposit account that pays interest, on which checks may be written. Authorized on a national scale in 1981, these accounts typically pay a relatively small return, although some banks offer high-interest NOW accounts in order to attract depositors.

 

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