Overview#

Financial Settlement is the process of completing a commitment is made for a Financial transaction until it is settled.

Financial Settlement process turns the promise of payment (for example, in the form of a cheque or electronic payment request) into the actual movement of Currency from one Transaction Account to another Transaction Account.

Clearing houses were formed to facilitate such Financial Settlement among Financial Institutions.

More Information#

There might be more information for this subject on one of the following:

• Clearing house
• Financial Data
• Funds Transfer System
• Payment Transaction