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clearance

noun [U] (CHEQUE)
 
 
/ˈklɪə.rəns/ US  /ˈklɪr.əns/

Definition

the process of a cheque going from one bank to another through a central organization, so that money can be paid to the person it is owed to: Clearance (of a cheque) can take up to a week.Withdrawing money
(Definition of clearance noun (CHEQUE) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

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