Meaning of “clearing bank” in the English Dictionary


"clearing bank" in Business English

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clearing banknoun [ C ]

uk us also clearer BANKING

in the UK, one of the main banks, that can exchange cheques and other payments between customers of other banks:

The four clearing banks in Scotland are Bank of Scotland, Clydesdale Bank, Lloyds TSB and the Royal Bank of Scotland.

(Definition of “clearing bank” from the Cambridge Business English Dictionary © Cambridge University Press)