Definition of Check clearing:
Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. This process (called clearing cycle) normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn. Also called clearing.
How to use Check clearing in a sentence?
- We had to wait for the check clearing which only took a couple days, but considering we had been waiting months for the check, we were impatient.
- I deposited the check my mom gave me, two days later the check clearing process has been completed and the money was no longer available in my mothers account.
- You need to make sure that you have enough funds on hand if you are going to have to wait awhile for a check clearing .
Meaning of Check clearing & Check clearing Definition