It allowed Negotiable Order of Withdrawal accounts to be offered nationwide.

Like a Negotiable Order of Withdrawal account, it is structured to comply with Regulation Q, which until July 21, 2011 forbid paying interest on demand deposits.

A "demand deposit" account includes many, but not all checking accounts, and does not include Negotiable Order of Withdrawal accounts (NOW accounts).

Its products include interest-bearing and non interest bearing deposits, NOW accounts (Negotiable Order of Withdrawal account), money market accounts, checking accounts and savings accounts.

Also in the 1970s savings and loans, which were not restricted by Glass-Steagall other than Section 21, were permitted to offer "negotiable order of withdrawal accounts" (NOW accounts).

It accepts a range of deposit products, which comprise business and personal checking accounts, negotiable order of withdrawal accounts, savings and money market accounts, time deposits, and individual retirement accounts.

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.

In the case of a savings and loan association it was a negotiable order of withdrawal (compare Negotiable Order of Withdrawal account); if a credit union it was a share draft.

QCR Holdings' deposit products include non-interest and interest-bearing demand deposits, time deposits, negotiable order of withdrawal accounts, regular checking accounts, savings deposits, and brokered certificates of deposits.

While a negotiable order of withdrawal is essentially identical to a check drawn on a demand deposit account, US banking regulations define the terms "demand deposit account" and "negotiable order of withdrawal account" separately.

Historically, this restriction was frequently circumvented by either creating an account type such as a Negotiable Order of Withdrawal account (NOW account) which is legally not a demand deposit account or by offering interest-paying chequing through a bank which is not a member of the Federal Reserve system.