Definition

A place or organization where banks and other financial institutions settle their accounts and share information.

Example

The banks used the clearinghouse to settle their transactions efficiently.

Conversation

Have you heard about the new clearinghouse for information on local events?

Yeah, I heard it's supposed to be really helpful for finding things to do.

I think it could be a great way to stay updated without missing out.

Definitely! It sounds like a useful resource for everyone.

Synonyms & Antonyms

Root Explanation

Clearinghouse is formed from "clearing" (from the verb "clear", meaning to settle or remove) and "house" (meaning a place or building). A clearinghouse is a place where financial transactions are settled or cleared.

Memory Tip

Think of a place where transactions are 'settled' ('clearing') — that's what a clearinghouse does.

Visually Confused Words