02/09/2024

The Clearing House

The Clearing House is a banking association and payments company that is owned by the largest commercial banks and dates back to 1853.

The Clearing House Payments Company L.L.C. owns and operates core payments system infrastructure in the United States and is currently working to modernize that infrastructure by launching a new, ubiquitous, real-time payment system. The Payments Company is the only private-sector ACH and wire operator in the United States, clearing and settling nearly $2 trillion in U.S. dollar payments each day, representing half of all commercial ACH and wire volume.

It is focused on the safety, security, reliability, and efficiency of bank-owned payment systems and has a long history of operational resilience, having maintained operations without interruption through every financial crisis and natural and man-made disaster since 1853.

The Clearing House provides a place to foster industry collaboration and development where industry coordination is necessary. Beginning with the first U.S. check exchanges, The company has brought together banks to collaborate on key issues, including needs for the next generation of payment systems. Most recently, The Clearing House launched RTP®, a real-time payment system for all U.S. banks.

In addition to its role as an operator, The Clearing House provides thought leadership to the banking industry. It engages with decision-makers, conducts research, and provides expertise to guide the evolution of public understanding, public policy legislation, and regulation of payments and the financial services industry.