An interest-bearing checking account (demand deposit) that pays a higher rate of interest and requires a higher minimum balance than a standard NOW (negotiable order of withdrawal) account. Like regular checking accounts, this deposit account allows depositors to write an unlimited number of checks. It was first introduced in January 1983. If balance fell below the minimum amount (USD 2,200 at the time), a holder would earn only the rate paid on standard NOW accounts.

NOW accounts are usually a more expensive source of funds for banks than money-market deposits. As a transaction account, it is subject to reserve requirements unlike money-market accounts which are exempted thanks to their savings-deposit nature. In 1986, the minimum-balance requirement for super NOW accounts was eliminated, prompting many banks to combine standard NOW accounts and super NOW accounts in one two-tier account in such a way that balances above a certain amount would earn a higher return.