Clearing Bank

Business, Legal & Accounting Glossary

Definition: Clearing Bank


Clearing Bank


Full Definition of Clearing Bank


A commercial bank that is part of a network of banks that can clear checks for its clients regardless of whether or not the check originates from the same commercial bank. Clearing a check means processing it so that funds are deducted from the payer’s account and put into the payee’s account.


Cite Term


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https://payrollheaven.com/define/clearing-bank/
Modern Language Association (MLA):
Clearing Bank. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
June 27, 2022 https://payrollheaven.com/define/clearing-bank/.
Chicago Manual of Style (CMS):
Clearing Bank. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/clearing-bank/ (accessed: June 27, 2022).
American Psychological Association (APA):
Clearing Bank. PayrollHeaven.com. Retrieved June 27, 2022
, from PayrollHeaven.com website: https://payrollheaven.com/define/clearing-bank/

Definition Sources


Definitions for Clearing Bank are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.