A central collection place where banks exchange checks or drafts; participants maintain an account against which credits or debits are posted WordNet 3.0 & Open English WordNet

Cheque clearing or bank clearance is the process of moving cash from the bank on which a cheque is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a cheque truncation system. Wikipedia

A clearing house is a financial institution formed to facilitate the exchange of payments, securities, or derivatives transactions. Wikipedia

The process of transferring value on a cheque from one bank account to another Wikipedia Disambiguation

Financial institution that provides clearing and settlement services Wikidata

Process of exchanging a cheque for its funds Wikidata