What is a cleaning bank?

Clearing bank is a banking institution that is a member of the National Clearing Network that has the ability to approve or clear payment control, even if these checks are not written in the accounts associated with this bank. Usually the billing bank is Komerční banka. Depending on the structure of the connected system or network, the Bank may be limited to clearing inspections issued on accounts associated with this network only, although some networks have agreements with other national networks to quickly evaluate and clear inspections written outside network financial institutions.

Clearing bank function can often help speed up the transfer of funds from the payer's account to the recipient's account. Depending on the principles of the individual cleaning network, this may mean that on the day the check is deleted, the nominal check value is credited to the recipient's account and also placed on the payer's account, even if they do not have ACC account at the same institution. This type of activity can often be very useful in business situations involvinga large amount of money. For example, if the recipient holds the goods or services for the payer until the check is clear, the Clearing Bank's action means that the products are released in a shorter period of time, allowing the payer to receive these products earlier.

Clearing bank can also cooperate with Membership Banks to manage transfers of electronic funds or permanent payments between the payer's accounts and the recipient associated with more than one bank. In the case of a permanent payment, this simply means that the funds are withdrawn from the payer's account processed via the Clearing Bank, and then on the same day it put it on the recipient's account. The Fund's disposable transfers can also be managed in the same basic way, allowing you to send a payment that is published on the case of the case.

It is important to realize that the Clearing bank also offers the beneficiary a certain level of protection. In view ofThe fact that the clearing process requires that the checks to cover the check will be present in the payer's account at the time the evaluation begins, the recipient is ensured that it will only be credited if the taxpayer has funds in honor of the check. This prevents recipients from receiving and storing worthless check or counterfeit check that is written in a closed or non -existent account. From this point of view, the work of the billing bank can be considered an effective tool for the protection of banks from banks from fraud victims or a similar type of fraudulent activity.