clearing bank

clearing bank
clearing bank
A bank which is a member of the London Clearing House
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Main Entry: ↑bank
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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
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Main Entry: ↑clear

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clearing bank UK US noun [countable] [singular clearing bank plural clearing banks] british
a bank that does business with other banks through a clearing house
Thesaurus: types of bank and people who work in bankshyponym

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clearing bank,
any one of a group of large British banks that are members of the London Clearing House: »

All the clearing banks except Barclays now issue cheque guarantee cards (London Times).

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noun, pl ⋯ banks [count]
Brit : any bank that uses a clearinghouse

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ˈclearing bank [clearing bank clearing banks] noun
(in Britain) a bank that uses a ↑clearing house when dealing with other banks
 
Culture:
There is a single clearing house for all cheques paid in Britain called the Cheque and Credit Clearing Company. Members of the company are able to provide cheque books and other services to their customers at a lower cost than other banks, which have to arrange for a clearing bank to handle cheques on their behalf. The UK clearing banks include ↑Barclays Bank, ↑Lloyds TSB, ↑HSBC, and NatWest.

Useful english dictionary. 2012.

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Look at other dictionaries:

  • 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 — 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,… …   Big dictionary of business and management

  • 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

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