An accepting house was a primarily British institution which specialised in the acceptance and guarantee of bills of exchange thereby facilitating the lending of money. They took on other functions as the use of bills declined, returning to their original wider function of merchant banking.
An accommodating institution was a predominantly British entity that specialized in accepting and guaranteeing bills of exchange, thus aiding money lending. It assumed additional roles as bill usage diminished, reverting to its initial broader role of merchant banking.