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exactly exactly How is a cash market account distinctive from a negotiable purchase of withdrawal (NOW) account?

A negotiable purchase of withdrawal (NOW) account is categorized as a deal account, while a cash market account is really a non-transaction account, in accordance with the Federal Reserve.

NOW accounts allow an unlimited amount of third-party payments, while cash market reports are on a six “convenient” transfers or withdrawals every month under Regulation D. Some banking institutions may limit cash market account transactions further.