Negotiable Order of Withdrawal (NOW) Account

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Dictionary Says

Definition of 'Negotiable Order of Withdrawal (NOW) Account'

An interest-earning bank account with which the customer is permitted to write drafts against money held on deposit. Also known as a "NOW account".
Investopedia Says

Investopedia explains 'Negotiable Order of Withdrawal (NOW) Account'

Typically commercial banks, mutual-savings banks and savings-and-loan associations can offer this type of account to individuals, some nonprofit organizations and certain governmental units.
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'Negotiable Order of Withdrawal (NOW) Account'

  • Are all bank accounts insured by the FDIC?

    http://www.investopedia.com/ask/answers/08/fdic-insured-bank-account.asp
    ... The types of bank accounts insured by the FDIC include negotiable order of
    withdrawal (NOW), money market, checking, IRA, savings, and ...

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