Inward clearing is all the cheques issued by the customers of your branch to their suppliers. Theses suppliers once they receive a cheque they will deposit in their respective banks and this banks will than forward the same to your branch to collect the money. Thus it represents cheques issued by the customers of the bank. Once the bank receives such cheques in Inward clearing it will check with the available balances in each of their customers account and if sufficient money is available than pass the cheque. if money is not available they will return the cheque back to the bank that sent them the cheque in Inward clearing.
Outward clearing is the exact opposite of inward clearing. Here the customers of the banks have received cheques from their Debtors and have deposited the same with the bank branch. Your branch will than segregate them and send to the respective banks on which they are drawn. If in three days the cheques are not returned that means that the cheque was o.k. and the banks customers will be allowed to withdraw money against the deposit of cheque. That is why sometimes you hear your bank officer saying the cheque is not cleared or is still under clearing.
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Mehreen Humayun
4th Semester, MBA(Banking)
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Quality in Everything We Do
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On Sun, Sep 4, 2011 at 5:15 AM, mc100202427 Saadat Hasan <mc100202427@vu.edu.pk> wrote:
inward clearing boly tu aik hi bank ki kisi aur branch ka cheque apni branch main clearing(collection) k liye dena.Out ward clearing boly tu kisi aur bank ka cheque apny bank main collection k liye present krna.--
On Sat, Sep 3, 2011 at 4:00 PM, umeed.e.subh <umeed_e_subh@vuzs.net> wrote:Inward clearing means the cheques received by the bank from other banks.These - Inward clearing - cheques are the cheques drawn by the bank/branch customers on their account in favour of other parties. On receipt of the inward clearing, the cheques are posted to the various accounts on which they are drawn -meaning the accounts of the cheque issuer or drawer with the bank is debited to the account and the payment is made to the bank presenting the cheque.
Outward clearing means the cheques sent for collection.When a particular branch receives instruments drawn on the other bank within the clearing zone and sends those instruments for collection through the clearing arrangement is considered as Outward Clearing for that particular branch. This branch is known as collecting branch.
In other words, inward clearing is for our branch and outward clearing is for other banks or branches. When we receive inward clearing we have to debit our customer account and when we receive outward clearing we have to send it to relevant bank for payment.
RegardsUmeed
On Sat, Sep 3, 2011 at 10:21 AM, mc090404173 Muhammad Zeshan Qaisar <mc090404173@vu.edu.pk> wrote:
Inward clearing is settslment of cash transctions without cash with one means NBP to NBP all over the countryand out ward clearing settalment of transctions to one bank to another bank means NBP to all other banks--On Sat, Sep 3, 2011 at 7:23 PM, mc100200990 Kanwal Arif <mc100200990@vu.edu.pk> wrote:
According to me in word clearing is with one bank branches clearing. and out word clearing is clearing of other banks transactions /cheques clearing. but m not sure.
On Sat, Sep 3, 2011 at 7:04 AM, (¯`'•.¸♥محمد♥¸.•'´¯) <mc090402355@vu.edu.pk> wrote:according to my mind inward is internal audit of daily weekly or monthly activities of bank which are perform with in the bank and out word is all dealing with other branches of same bank or other branches of other banks.--
On Sat, Sep 3, 2011 at 5:45 PM, mc090405216 Arshia Osaf <mc090405216@vu.edu.pk> wrote:AOA allAnyone can explain me the inward clearning and outward clearing of Banks?--
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