clearing system

Definitions

Accounting

• noun the system of processing payments using phone and internet, operated in the UK by the Association for payment clearing services, an organisation owned by 39 major banks and building societies

Economics

• An arrangement among financial institutions for carrying out the transactions among them, including canceling out offsetting credits and debits on the same account.

Nearby Definitions of “clearing system”

• clam
• clamp
• class
• classification of 1855
• clear
• clearing system
• Clemence Dane
• clerk
• cliché
• client
• Clifford Odets

Contexts for “clearing system”

2 definitions in context
• Accounting
• Economics