check clearing
Definition
Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. This process (called 'clearing cycle') normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn. Also called clearing.
check clearing is in the Accounting & Auditing and Banking, Commerce & Finance subjects.
check clearing appears in the definitions of the following terms: float, clear, check kiting, outstanding check and clearing
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