clearing house

1. 1.

   a central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are posted

   Broaderfinancial institution

Questions about clearing house

What does clearing house mean?

clearing house means "a central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are posted".

Is clearing house a common word?

clearing house is banded "Rare" — specialist or archaic — most readers will not have met it. The band comes from how often the word appears in a large corpus of everyday English, not from an editor's impression.