NOW accounts offer an option to traditional demand deposits.All of the following are characteristics of NOW accounts except one.Which is it?

Question

Quizplus · Accepted Answer

All of the given options are commonly associated with NOW accounts except for option C. NOW accounts typically offer higher interest rates than traditional savings accounts but lower rates than other cash management options such as money market accounts or certificates of deposit. Additionally, NOW accounts often require higher minimum balances and may come with monthly fees.

NOW Accounts Offer an Option to Traditional Demand Deposits