payee


payee
person to whom money is paid
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See drawee
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A person receiving payment through any form of money transfer method. Bloomberg Financial Dictionary

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payee pay‧ee [peɪˈiː] noun [countable]
1. BANKING the person or organization to whom money, especially a cheque, must be paid:

• The Eurocheque is free of charge to its payee.

• Reports can show transactions by date, amount or payee.

— compare payer
2. account payee (only) written abbreviation a/​c payee (only) BANKING a phrase written on a cheque to show it can only be paid into the account held by the person whose name is written on the cheque

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payee UK US /peɪˈiː/ noun [C]
FINANCE, BANKING a person that money or a cheque is paid to or should be paid to: »

They filled in the amount on the cheque, but left the payee's name blank.

Compare PAYER(Cf. payer)
See also ACCOUNT PAYEE (ONLY)(Cf. ↑account payee )

Financial and business terms. 2012.

Look at other dictionaries:

  • payee — pay·ee /ˌpā ē/ n: a person to whom money is to be or has been paid; specif: the person named in a bill of exchange, note, or check as the one to whom the amount is directed to be paid compare drawee, drawer Merriam Webster’s Dictionary of Law.… …   Law dictionary

  • Payee — Pay*ee , n. The person to whom money is to be, or has been, paid; the person named in a bill or note, to whom, or to whose order, the amount is promised or directed to be paid. See {Bill of exchange}, under {Bill}. [1913 Webster] …   The Collaborative International Dictionary of English

  • payee — (n.) 1758, from PAY (Cf. pay) (v.) + EE (Cf. ee) …   Etymology dictionary

  • payee — ► NOUN ▪ a person to whom money is paid or to be paid …   English terms dictionary

  • payee — [pā ē′] n. the person to whom a payment is made or owed …   English World dictionary

  • Payee — The party in an exchange who receives payment. A payee is paid in cash, check or other transfer medium by a payer, with the payer receiving a good or service in return. The name of the payee is included in the bill of exchange. In the case of a… …   Investment dictionary

  • Payee —   An ISO term. The third party beneficiary in a payment transaction. 25x.   The Payee in a cheque is the person named therein to whom, or to whose order, payment is directed to be made. STR uses the name entered in Beneficiary party as Payee.… …   International financial encyclopaedia

  • payee — UK [ˌpeɪˈiː] / US [ˌpeɪˈɪ] noun [countable] Word forms payee : singular payee plural payees the person who you pay a cheque or money to …   English dictionary

  • payee — A person to whom a payment is made or who is designated in a bill or note as the person to whom payment is to be made. The Commercial Code purports to settle the long continued conflict over the status of the payee as a holder in due course by… …   Ballentine's law dictionary

  • payee — [[t]peɪi͟ː[/t]] payees N COUNT: usu sing The payee of a cheque or similar document is the person who should receive the money. [FORMAL] Ant: payer …   English dictionary