Payee (Noun)
Meaning
A person to whom money is paid.
Classification
Nouns denoting people.
Examples
- The account holder is the payee for the recurring transfers from her employer.
- In order to complete the wire transfer, the bank requested the payee's name and account number.
- The payee's signature is required on the back of the check before it can be cashed.
- After verifying the payee's identity, the bank released the funds from the escrow account.
- The tax refund was issued to the payee in the form of a direct deposit into her bank account.