Tag: NOW Accounts

Why Do Banks Still Have A NOW Account?

Streamlining Deposit Accounts

There are a material amount of banks out there that still offer negotiable order of withdrawal (“NOW”) accounts. Our question is why? Why not also offer a Christmas Passbook Account while you are at it? The NOW account predates the Dodd-Frank Act and while there was little need to carry it before, there is now no cogent argument that can be made for carrying it present day.

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