A clearing bank is the bank designated by the member to receive the member’s daily net settlement advisement, after clearing. The clearing bank will also conduct funds transfer activities with the net settlement bank and maintain the member’s clearing account. The clearing bank may be the member itself.
Clearing banks can clear cheques for its clients regardless of whether the cheques originated from that same bank or not.
In Britain, British banks can make use of the clearing house in London for the transfer of credits and cheques between banks.
Payment Processing Services by NOIRE
NOIRE provides industry leading online payment processing services & risk management technologies. Designed using NOIRE, “Simply Switch On”, approach to payment processing, our payment solutions are built using the latest payment processing technology enabling businesses to “Plug In” and “Switch On” payment modules with ease if and when required.
As a leading Payment Service Provider, you can trust NOIRE to find the right solution for your business. We provide everything in one simple agreement – your Internet Merchant Account, Payment Gateway and Payment Processing with all the leading cards issuers. Combined with NOIRE’s industry leading fraud & risk management solutions, merchants can be confident managing their payments safely and securely from beginning to end with NOIRE.
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