clearing house
NounSynonyms:
clearing house
WordNet 3.0
Noun (1)
- a central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are postedSynonyms: clearing house
Webster's Dictionary (GCIDE)
Clearing \Clear"ing\, n.
1.The act or process of making clear. [1913 Webster]
The better clearing of this point.— South.[1913 Webster]
2.A tract of land cleared of wood for cultivation. [1913 Webster]
A lonely clearing on the shores of Moxie Lake.— J. Burroughs.[1913 Webster]
3.A method adopted by banks and bankers for making an exchange of checks held by each against the others, and settling differences of accounts. [1913 Webster]
Note: In England, a similar method has been adopted by railroads for adjusting their accounts with each other. [1913 Webster]
4.The gross amount of the balances adjusted in the clearing house. [1913 Webster]
Clearing house, the establishment where the business of clearing is carried on. See above, 3. [1913 Webster]