An abbreviation for negotiable order of withdrawal account; an interest bearing checking account. It is a type of transaction accounts which involves the deposit of money for interest. That means it is simply an ordinary savings account, from which the account holder may withdraw his money through a negotiable order of withdrawal — hence the name NOW account. However, unlike traditional checking accounts, a NOW account allows interest to be paid on demand deposits. Eligibility is confined to specific groups of clients. For example, in the U.S., it is only accessible by natural persons, government bodies, and nonprofit organizations. This account usually stipulates a minimum balance. If the account balance drops below this amount, an account holder may not earn interest and will likely incur a penalty or service charge. In contrast with deposit checking, NOW accounts are typically subject to more restrictions. For example, some banks apply individual policies that require withdrawals to be of a minimum amount.

The NOW account was first introduced by thrifts in the New England region in 1972. Today the name NOW accounts is only used by few banks as names such as interest checking, gold checking, or interest-bearing checking accounts are often used.