English version

payee in Banking topic

From Longman Dictionary of Contemporary Englishpayeepay‧ee /peɪˈiː/ noun [countable]  BFBthe person or organization to whom money, especially a cheque, must be paid
Examples from the Corpus
payeeUnder that system, the Eurocheque is free of charge to its payee, the costs being borne by the drawer.Anyone could pay any cheque into their account provided the original payee had signed the back.The hotel must be named as the payee. 5.Draw a specimen cheque, complete it and name the payee, drawer and drawee. 8.Cheques requiring endorsement Endorsement consists of the signature of the payee on the back of the cheque.Just complete a single form with your payee details at any Birmingham Midshires branch.