Clearing
The exchange and processing of payment instructions between financial institutions before final settlement takes place.
Definition
Clearing is part of the payment system rather than an ordinary consumer-payment complaint on its own. Legal questions can involve payment instructions, participating banks, clearing rules, settlement timing, disputed transactions, payment-service providers, fraud controls, chargebacks, operational incidents, and which regulator or scheme rules apply.
Key takeaways
The exchange and processing of payment instructions between financial institutions before final settlement takes place.
Banking and Finance
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Related legal problems
This glossary provides general information only and does not constitute legal advice.
Common situations
Payment clearing issue
Bank payment dispute
Settlement delay
Related resources
Resources and guides
Banking and Finance Document Pack
Banking and Finance Document Pack: prepare Credit agreement, Loan agreement, Security documents and identify missing records before legal advice.
Banking and FinanceChecklistBanking and Finance Fee and Scope Guide
Prepare fee and scope questions for a banking and finance matter by separating consultation fees, fixed fees, hourly work, disbursements, official fees, exclusions, approval rules, and invoice controls.
Banking and FinanceChecklistCredit And Finance Checklist
Credit And Finance Checklist for preparing documents, facts, dates, and questions connected to banking and finance.
Banking and FinanceFAQs
Clearing FAQs
What does Clearing mean?
The exchange and processing of payment instructions between financial institutions before final settlement takes place.
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