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Letter C
Clearing bank
An institution or organisation authorised by the Bank of England under the
Banking Act 1987.
The main four banks are generally considered to be Lloyds Bank, National
Westminster Bank, Barclays Bank and HSBC, which was formally know as Midland
Bank.
There are other banks now such as Abbey National and Halifax these were
previously know as building societies before they demutualised.
There are also the Scottish banks such as The Bank of Scotland, The Royal Bank
of Scotland, and the Clydesdale to name a few.
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