Payee - Meaning, Definition & English Examples
A payee is the person or entity who receives payment in a transaction, such as a recipient of money from a check, transfer, or other financial instrument.
Definition:
The person or entity to whom money is paid or owed.
Synonyms:
recipient, beneficiary, receiver
Part of Speech:
noun
Antonyms:
payer, debtor
Common Collocations:
check payee, designated payee, joint payee, primary payee, named payee
Derivatives:
payees, payable
Usage Tips:
Ensure the payee's name matches exactly to avoid payment errors.
Common Phrases:
named payee, joint payee, primary payee
Etymology:
Derived from 'pay' + '-ee,' indicating the recipient of an action (early 19th century).
Examples:
- 1. The check lists her as the payee.
- 2. Always verify the payee's details before transferring money.
- 3. The bank requires the payee's signature for clearance.
- 4. He forgot to write the payee's name on the check.