What does negotiable order of withdrawal account mean?
Definitions for negotiable order of withdrawal account
ne·go·tiable or·der of with·drawal ac·count
This dictionary definitions page includes all the possible meanings, example usage and translations of the word negotiable order of withdrawal account.
Wikipedia
Negotiable order of withdrawal account
In the United States, a negotiable order of withdrawal account (NOW account) is a deposit account that pays interest on which an unlimited number of checks may be written.A negotiable order of withdrawal is essentially identical to a check drawn on a demand deposit account, but US banking regulations define the terms "demand deposit account" and "negotiable order of withdrawal account" separately. Until July 2011, Regulation Q stated that a demand deposit could not pay interest. NOW accounts were structured to comply with Regulation Q. NOW accounts are considered checkable deposits, and are counted in the Federal Reserve Board's M1 definition of the money supply, as well as in the broader definitions. Like all other bank deposits, they are liabilities from the bank's perspective.
Numerology
Chaldean Numerology
The numerical value of negotiable order of withdrawal account in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of negotiable order of withdrawal account in Pythagorean Numerology is: 7
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"negotiable order of withdrawal account." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/negotiable+order+of+withdrawal+account>.
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