noun
- a person or organization to whom money is paid or is to be paid
Usage: business; legal
Examples
- Write the payee’s name clearly on the check.
- The bank verified the identity of the payee before processing the payment.
- Make sure the payee endorses the back of the check.
- The insurance company is listed as the payee on this claim.
- Electronic transfers require the payee’s account information.
- The payee must sign to acknowledge receipt of funds.