clearing cycle definition

clearing cycle

Two to five day period during which local checks or drafts deposited by a payee bank's customer are presented for payment at the drawee bank, and the proceeds are credited to the customer's account.

clearing cycle is in the Accounting & Auditing and Banking, Commerce & Finance subjects.

clearing cycle appears in the definitions of the following terms: check clearing, check hold, uncleared check, clearance time, noncash item, uncleared effects and value date

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