Banking

Clearing

Definition

The process of reconciling and settling financial transactions between banks before funds are actually transferred.

Concepts

Related Terms

settlement clearing house ACH

Deeper Dive

Learn More

Account Number

A unique identifier assigned to a bank account for transactions.

ACH

Automated Clearing House - a US network for electronic bank-to-bank transfers, used for direct deposits, bill payments, and person-to-person transfers.

ACH Transfer

Automated Clearing House electronic fund transfer in the US.

Amortization

Spreading payments over multiple periods.

Available Balance

The amount of money in an account that is immediately available for withdrawal or use, excluding pending transactions and holds.

Browse

Browse by Category

View all terms

Banking Cryptocurrency Compliance Payments Foreign Exchange Fintech General Finance

Can't find what you're looking for?

Explore our full glossary of financial terms or get in touch with our team.

Browse Glossary Contact Support