Commercial banks that collect and disburse funds relating to issued cheques.
The clearing bank facilitates cash settlement among the trading members and dealers. Currently the clearing banks are HFDFC Bank, Global Trust Bank and Canara Bank.
A member bank of a national check/cheque clearing system. In England the clearing banks are Barclays, Coutts, Lloyds, Midland and National Westminster. In Scotland The Bank of Scotland, Clydesdale Bank and The Royal Bank of Scotland.
Any bank that is a member of any of the constituent companies of APACS.
A Clearing bank is a commercial bank that collects and disburses funds relating to issued cheques.
Member bank of a national cheque clearing system. In the UK, the clearing banks include the leading English 'high-street' banks, their Scottish and Northern Irish equivalents and several regional banks.
A bank designated by the member to receive the member's daily net settlement advisement. The clearing bank will also conduct funds transfer activities with the net settlement bank and maintain the member's clearing account. This bank may be the member itself.
