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English definition of “banker's discount”

banker's discount

noun [C]
 
 
BANKING, FINANCE
the difference between the amount shown on a bill of exchange, etc. that a customer sends to a bank for payment, and the amount that the customer receives, after the bank has taken its payment: The banker's discount is calculated at a certain rate of interest per annum on the amount of the bill for the unexpired period.
(Definition of banker's discount from the Cambridge Business English Dictionary © Cambridge University Press)
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