Negotiable Order of Withdrawal (NOW)

A negotiable order of withdrawal (NOW) is a type of checking account that allows account holders to write checks and make electronic payments. NOW accounts are offered by banks and credit unions, and they typically offer higher interest rates than traditional checking accounts.

NOW accounts are similar to savings accounts in that they offer interest on deposits, but they also offer the convenience of a checking account. This makes them a good option for people who want to earn interest on their money but still need access to checks and electronic payments.

To open a NOW account, you will need to provide some basic information, such as your name, address, and Social Security number. You will also need to make a minimum deposit, which is typically $250.

Once you have opened your NOW account, you can start depositing money and writing checks. You can also use your NOW account to make electronic payments, such as bill payments and online purchases.

There are some fees associated with NOW accounts, such as a monthly service fee and a fee for each check you write. However, these fees are typically waived if you maintain a minimum balance in your account.

NOW accounts are a good option for people who want to earn interest on their money and still have access to checks and electronic payments. If you are looking for a checking account that offers higher interest rates, a NOW account may be a good choice for you.

Here are some additional details about NOW accounts:

* NOW accounts are offered by banks and credit unions.
* They typically offer higher interest rates than traditional checking accounts.
* You can write checks and make electronic payments from a NOW account.
* You will need to make a minimum deposit to open a NOW account.
* There are some fees associated with NOW accounts, such as a monthly service fee and a fee for each check you write.
* NOW accounts are a good option for people who want to earn interest on their money and still have access to checks and electronic payments.