Payee

Payee,

Definition of Payee:

  1. In a banking situation, the payee must have an active account that is in good standing through which funds can be transmitted from the payer.

  2. A payee is a party in an exchange who receives payment. The payee is paid by cash, check, or another transfer medium by a payer. The payer receives goods or services in return. The name of the payee is included in the bill of exchange and it usually refers to a natural person or an entity such as a business, trust, or custodian.

  3. Party to whom a bill of exchange (such as a check or draft) is made payable. Payees name follows the words Pay to the order of. Also called beneficiary. See also drawee and drawer.

  4. A person to whom money is paid or is to be paid, especially the person to whom a check is made payable.

Synonyms of Payee

Heir, Heiress, Inheritor, Legatee, Accepter, Acquirer, Addressee, Audience, Auditor, Beholder, Consignee, Getter, Hearer, Holder, Listener, Looker, Obtainer, Procurer, Receiver, Recipient, Spectator, Taker, Trustee, Viewer

How to use Payee in a sentence?

  1. A payee is a party in an exchange who receives payment.
  2. On the other hand, there were dispositions of the companys money between the company and the payees of the cheques.
  3. He was listed as the payee on the check for $2,000.00 and when he went to the bank to cash it he had to sign the back as an endorsement.
  4. There are seven requirements that a personal cheque should include in order to be negotiable, such as the payee , the payor, the date, the written amount, the numerical amount, the payors signature and the payee s endorsement.
  5. The Social Security Administration may designate a representative payee if it believes the beneficiary can’t be trusted to manage their own funds.
  6. My job as an office manager requires me to review all of our accounts and to ensure that the payee matches each invoice received so our company account is properly credited.
  7. Payees may also be more than one party; sometimes, they are the same party.

Meaning of Payee & Payee Definition

Payee,

What is Payee?

  1. Definition of Payee: The beneficiary party is the one receiving the payment. In the insurance industry, insurers and policyholders can act as mutual beneficiaries.

  2. Meaning of Payee: The beneficiary is the part of the exchange that receives the payment. The payer pays the recipient in cash, check or otherwise. In return, the payer receives the goods or services. Beneficiaries have different names and usually refer to individuals or legal entities, such as companies, trusts or custody banks.

    • The beneficiary is the part of the exchange that receives the payment.
    • Beneficiaries can sometimes be more than one part, they are one part.
    • If it is deemed that the beneficiary cannot be trusted to manage their own funds, a social security provider may appoint a beneficiary representative.

  3. Payee can be defined as, The person or organization that has to pay the check, money order, or money order. See check receipt questions.

  4. The insured or beneficiary who receives compensation from the insurer. In auto insurance, the loss-making entity is the company that finances the car loan or rent. In the event of a total written closure, the insurer pays the heirs of the first loss.

Meanings of Payee

  1. A person who owes money or will pay it off, especially a person who pays by check

Sentences of Payee

  1. On the other hand, money is transferred between the company and the recipient of the check.

Payee,

How To Define Payee?

  • Beneficiary is one of the receiving parties. In the insurance industry, insurers and policyholders can act as mutual beneficiaries.

  • The definition of Payee is: The payer is the part of the exchange that receives the payment. The payer pays by cash, check or other means. In return, the payer receives the goods or services. Beneficiary's name is included in all exchanges and usually refers to an individual or legal entity, such as a company, trust or custodian.

    • The payer is the part of the exchange where you receive the payment.
    • Beneficiaries can sometimes have more than one part, they are one part.
    • Social security authorities can appoint a representative beneficiary if they believe they cannot be trusted to manage their property.

  • Payee means: Payment of the person or identity used to send the check, money order or money order is required. See questions about verification checks.

  • The insured or beneficiary receives compensation from the insurer. In auto insurance, a loss-making entity is a company that provides financial assistance for a car loan or rent. In the event of a total write-off, the insurer pays the heirs of the first loss.

Meanings of Payee

  1. The person who has the money or has to pay, especially the person who pays by check.

Payee,

What is Payee?

  1. Will Canton specializes in investment and business legislation and regulation. Prior to that, he held senior positions as an author at Investopedia and Kapitall Wire, and earned a master's degree in economics and a Ph.D. in philosophy in English literature from the New School for Social Research at New York University.

    • Recipients are part of the exchange of goods and services for which they receive payment.
    • Recipients provide goods and services to payers, who receive them through exchange of value (usually cash).
    • The recipient can be multiple parties to a transaction and sometimes even one party.
    • A social security provider may appoint a beneficiary's representative if he or she believes the beneficiary is unreliable or unable to run his or her own business.

  2. A simple definition of Payee is: Payment must be made to the person receiving the check, money order or money order. See questions about verification testing.

  3. The insured or beneficiary receives compensation from the insurer. In auto insurance, the loss-making entity is the company that finances the car loan or rent. In the event of a total write-off, the insurer pays damages to the first heirs.

Meanings of Payee

  1. The person who has the money or should be paid, especially the person to whom the money is paid by check.