clearing

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clearing

the process by which the cheques drawn on clearing banks are exchanged and the differences between what is due from and to each bank are settled daily by transfers between the accounts of such banks with the Bank of England.
References in periodicals archive ?
That reduced clearing time from six days to six hours.
This is especially valuable when items experience significant clearing times and delays when presented to the bank.
* Monitor disbursement clearing time and consider consolidating controlled disbursement endpoints into one that offers the highest level of reporting and funding accuracy and earliest available presentment times.
MPPC eliminates manual work in preparing and mailing of checks for clearing, reduces the volume of check records to maintain, significantly reduces check clearing time within 24 hours vice two weeks (sometimes to a month or more during underway) thus helping Sailors with budgeting and bank reconciliation, and also increases disbursing officer's fiscal accountability by reducing "bounced check" collection processing.
PROPOSALS aimed at cutting teachers' hours and clearing time in the school day for them to mark work and prepare lessons were announced by Estelle Morris.
"Clearing time in their busy schedules to strategize on 'big picture' issues is, therefore, a priority."