The main aim of this thesis was to find out what the electronic clearing system was all about and how it facilitates the settlements of debt. This thesis was based on an internship which motivated the writer to investigate more about the electronic clearing system and how it functions as compared to the for-mal means of clearing (manual clearing system). The research was based on personal observations and research with the use of questionnaires which were sampled to a randomly selected staff and customers of the case institution.
From the responses received from the questionnaires and also from the personal observations and the writing of others about the electronic clearing system, it is assumed that the electronic clearing system has played a great role in settling debts or financial differences between banks on behalf of their customers. Conclusively, the electronic clearing system is one of the greatest inventions in modern day technology as it has superseded the outdated manual clearing system, thereby leading to the growth of the entire economy
