Which of the following is true about a NOW account?
A) Pays no interest
B) Not as liquid as a traditional checking account
C) No minimum balance is required
D) Is not an insured account

Question

Quizplus · Accepted Answer

NOW accounts, which stand for Negotiable Order of Withdrawal accounts, are interest-bearing deposit accounts that can require a minimum balance and may not be as liquid as traditional checking accounts due to restrictions on withdrawals or transaction limits.

Which of the Following Is True About a NOW Account