• We are pleased to announce that the winner of our Feedback Prize Draw for the Winter 2024-25 session and winning £150 of gift vouchers is Zhao Liang Tay. Congratulations to Zhao Liang. If you fancy winning £150 worth of gift vouchers (from a major UK store) for the Summer 2025 exam sitting for just a few minutes of your time throughout the session, please see our website at https://www.acted.co.uk/further-info.html?pat=feedback#feedback-prize for more information on how you can make sure your name is included in the draw at the end of the session.
  • Please be advised that the SP1, SP5 and SP7 X1 deadline is the 14th July and not the 17th June as first stated. Please accept out apologies for any confusion caused.

clearing banks

S

salj67

Member
"Clearing banks carry out a multitude of roles although their distinguishing feature is that they obtain a bulk of their finance from private individuals through high street outlets..." What do u mean by high street outlets? And how is allowing transfer of money a distinguishing feature? Dont other banks allow the same? So how are clearing house different from other banks?
 
Last edited by a moderator:
banks

"High Street" is a UK term - meaning the banks that you see in shopping centres on the main streets in towns and cities. These are called retail banks, who mainly have individuals as customers. This is what we have in mind when we say clearing banks - who transfer (or clear) money between different individual customers who may bank with the same or different bank.

This is different to investment banks - who mainly have companies as customers.

Some banks have both retail and investment arms.
 
You must log in or register to reply here.
Back
Top