Definition, Meaning & Synonyms
payee
noun
/peɪˈiː/
Definition
A person or entity that receives payment.
Examples
- The payee needs to endorse the check before cashing it.
- In a loan agreement, the borrower pays the payee regularly.
- Make sure to confirm the payee’s details before making a transfer.
Meaning
The payee is the individual or organization to whom money is paid or owed.
Synonyms
- recipient
- paymaster
- beneficiary
