clearing bank


clearing bank
1) In the UK, a bank that is a member of the central clearing system, to enable passage and clearance of cheques. It is often used as an alternative description for the major High-Street banks.
2) In the USA, a bank that settles federal, agency, and corporate securities for its customers.

Big dictionary of business and management. 2014.

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  • clearing bank — A bank which is a member of the London Clearing House • • • Main Entry: ↑bank clearing bank noun A bank that is a member of the London Bankers Clearing House, through which it makes credit and cheque transfers to and from other banks • • • Main… …   Useful english dictionary

  • clearing bank — ➔ bank1 * * *    A bank that is a member of a national cheque clearing system. To clear a cheque means to process it so that the payee receives its value. Such systems can also involve clearing financial orders and standardized payment… …   Financial and business terms

  • clearing bank — a bank that is a member of the Committee of London and Scottish Clearing Bankers. Collins dictionary of law. W. J. Stewart. 2001. clearing bank …   Law dictionary

  • clearing bank — clearing ,bank noun count BRITISH a bank in the U.K. that does business with other banks through a clearing house …   Usage of the words and phrases in modern English

  • clearing bank — clearing .bank n one of the banks in Britain that uses a clearing house when dealing with other banks …   Dictionary of contemporary English

  • clearing bank — n (BrE) a bank that is a member of a clearing house: an organization that arranges for payments to be made between customers of different banks. There is a single clearing house for all cheques paid in Britain: the Cheque and Credit Clearing… …   Universalium

  • clearing bank — UK / US noun [countable] Word forms clearing bank : singular clearing bank plural clearing banks British a bank that does business with other banks through a clearing house …   English dictionary

  • clearing bank — clearing banks N COUNT The clearing banks are the main banks in Britain. Clearing banks use the central clearing house in London to deal with other banks …   English dictionary

  • clearing bank — noun Brit. a bank which is a member of a clearing house …   English new terms dictionary

  • Clearing Bank — Banken in Großbritannien, die sämtlich Mitglieder des London Bankers Clearing House sind. Aufgaben: Entgegennahme von Einlagen und Gewährung von Krediten. Ausgleichung der bei ihnen eingereichten Schecks durch Aufrechnung …   Lexikon der Economics