What Is a Clearing Bank?

The clearing bank is also called "transfer bank" and "remittance bank". It is a bank that can directly participate in clearing of bills. Bill exchange refers to the mutual collection and payment of bills between banks within the same city for mutual settlement. This is a system for centralized transfer and settlement. It is generally managed by a central bank and carried out through a clearing house. The balance greater than the receivable increases the deposit in the central bank; the balance less receivable reduces the deposit in the central bank. The clearing principle of bill settlement is to safeguard the legitimate rights and interests of both the receiving and paying parties, and the central bank does not advance. Its advantage is to facilitate the settlement of funds and save a lot of cash. The earliest international clearing house was the London Clearing House, which was established in 1775.

Clearing bank

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The clearing bank is also called "transfer bank" and "remittance bank". Can participate directly

In the UK, clearing banks are essentially commercial banks, with the difference that these commercial banks can participate in London

A clearing bank refers to a commercial bank designated by the exchange to assist the exchange in clearing business of transaction funds.

(1) it is a national commercial bank;

(2) Strong funds;

(3) Good reputation;

(4) Having branches and business outlets in major cities across the country;

(5) Having an advanced and rapid intra-city and remote fund transfer network;

(Six) having

(1) Exchanges and customers respectively set up special banks in clearing banks

(1) providing the funds of the client's special fund account to the exchange;

(2) according to the electronic data provided by the exchange, preferentially transfer the client's funds and timely transfer the client's funds into the special account of Zhaojin Gold;

(3) assisting the exchange to verify the source and destination of client funds;

(4) Notifying the exchange in a timely manner of the client's bad behavior in fund settlement;

(5) to assist Zhaojin Gold to resolve risks when major risks occur on the exchange;

(6) Protecting trade secrets of exchanges and customers.