Which of the following is not true of a NOW account?
A) Offered by depository institutions
B) Pays relatively low interest
C) Only three checks per month can be written
D) Requires a minimum balance

Question

Quizplus · Accepted Answer

NOW accounts (Negotiable Order of Withdrawal) do not typically limit the account holder to only three checks per month. They function similarly to checking accounts, allowing for numerous checks to be written.

Which of the Following Is Not True of a NOW