Definitions from the Web
Clearing Bank
A clearing bank refers to a financial institution, typically a commercial bank, that facilitates the clearing and settlement of financial transactions between banks and their customers.
Meaning
- Noun: A bank responsible for clearing and settling financial transactions.
Usage
- Sense 1: As a noun referring to a financial institution.
Sample Sentences
- The role of a clearing bank is vital in ensuring secure and efficient transaction settlements.
- When the payment is made, the clearing bank will verify and complete the transaction.
- The clearing bank acts as an intermediary, streamlining the process of transferring funds between banks.
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