Image Clearing System definition

Image Clearing System means the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing payment.
Sample 1Sample 2Sample 3
Image Clearing System means a system which allows banks to clear a digital image of a Sterling cheque rather than the original paper cheque;
Sample 1Sample 2

Examples of Image Clearing System in a sentence

  • Some mobile phone providers may charge for calls to this number.‘Image Clearing System’ means the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing payment.Cheques processed through this system clear more quickly.

  • The extended industry sorting code directory (EISCD) is a database of information about all the bank/building society branches and bank offices that participate in one or more of the UK clearings systems:• Bacs – Bulk electronic credit and debit clearing• CHAPS Sterling – High value, same day sterling payment clearing• ICS (Image Clearing System) – Cheque and Credit Clearing for United Kingdom• Faster Payments Service – near real-time electronic credit clearing.

  • The Check Image Clearing System or CICS is the new automated clearing system that will be adopted and implemented by PCHC.

  • She asserts that the reason for this lack of sympathy rests on Americans’ independence, and the idea that everyone is responsible for their own wellbeing.

  • Image Clearing System (ICS:)The new method for clearing cheques in the UK.

  • The settlement of the return clearing file from Check Image Clearing System (CICS) and some of BSP’s own transactions are settled on the next business date, but value-dated to the previous day.

  • Check Image Clearing System (CICS) CICS is the name used by PCHC for the adoption/implementation of check truncation technology in the Philippines.

  • Through RTGS, the Bank provides settlement to direct participants of CHAPS, CREST, six retail payment systems (Bacs, Image Clearing System (ICS) for cheques, Faster Payments, LINK, MasterCard Europe and Visa Europe) and the Bank’s Note Circulation Scheme.

  • It has previously been described as a slow and labour-intensive process done because of legal requirement and because a bank upon which a cheque is drawn has the legal right to demand that they see the physical cheque prior to deciding whether to pay it or not 24.Once the Image Clearing System has been fully introduced, all banks and buildingsocieties will scan cheques paid in by their customers to create images.

  • Cheque imaging is the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing and payment.

Related to Image Clearing System

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Net metering system means a facility for the production of electrical energy that:

  • Interconnection Point means the point(s) of connection(s) at which the project is connected to the grid i.e. it shall be at 11 / 22 kV bus bar level of substation of MSEDCL.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Monitoring System means a system established by BNY to fulfill the Responsibilities specified in clauses (d) and (e) of Section 1 of Article III of this Agreement.

  • Exchange Message Interface or "EMI" means the format used for exchange of Telecommunications message information among Telecommunications Carriers. It is referenced in the Alliance for Telecommunications Industry Solutions (ATIS) document that defines industry guidelines for the exchange of message records.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Fraud Monitoring System means an off-line administration system that monitors suspected occurrences of ABT- related fraud.

  • Beam monitoring system means a system designed and installed in the radiation head to detect and measure the radiation present in the useful beam.