Cleared funds
Money that has completed the banking process and is available for use, rather than a payment that is still pending or may be reversed.
Related terms
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Client account
A separate bank account used by a regulated or professional firm to hold client money apart from the firm’s own funds, where applicable.
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Repayment
Money paid back towards a loan, debt or other financial obligation.
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Settlement figure
The amount a creditor agrees will resolve or discharge a debt under specified settlement terms.
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