clearing bank

noun

(in Britain) any bank that makes use of the central clearing house in London for the transfer of credits and cheques between banks

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012