Also found in: Dictionary.
Related to NOW account: Money market deposit account, Asset management account, Super NOW Account, ATS Account
Negotiable Order of Withdrawal Account
An interest-bearing account on which checks may be written. Authorized on a national scale in 1981, these accounts pay a relatively small return. Therefore, the balances in NOW accounts should be kept at the minimum necessary to provide needed funds without incurring service charges. Also called negotiable order of withdrawal. See also super NOW account.