Discount House

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DEFINITION

Primarily operating in the United Kingdom, a firm that buys, sells, discounts and/or negotiates bills of exchange or promissory notes. This is generally performed on a large scale with transactions that also include government bonds and treasury bills.


Also called a bill broker.


In the United States, a discount house can refer to a large retail store that is able to offer consumer durables at discounted prices because of its ability to purchase in bulk and employ expense-controlling practices.



INVESTOPEDIA EXPLAINS

A discount house is a money dealer that participates in the buying and discounting of bills of exchange and other financial products such as money markets, certain government bonds and banker's acceptances.




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