Meaning of “banker's discount” in the English Dictionary

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"banker's discount" in Business English

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banker's discountnoun [ C ]


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)