Yes, the clearing number of the acquiring bank means that when handling the inter-bank remittance business, you need to enter the clearing bank code of the other party like the personal ID number, so as to achieve the purpose of handling the business accurately and quickly. Banks transfer funds because of customers' capital transactions, which must go through the People's Bank of China. Therefore, in every big city, there will be a bill exchange hall of the People's Bank of China. Every morning and evening, all banks with clearing numbers will exchange bills here, and each bank has its own number. This number is the settlement number.