a/c payee

a/c payee
a/c payee (only) UK US noun [S] BANKING
WRITTEN ABBREVIATION for account payee (only): in the UK, words written vertically in the centre of a cheque (= a printed form used for paying money out of your bank account). The words show that the cheque must be paid only into the account of the person to whom it is written: »

Crossing a cheque with a/c payee means that the cheque cannot be used by someone else.

Financial and business terms. 2012.

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  • payee — pay·ee /ˌpā ē/ n: a person to whom money is to be or has been paid; specif: the person named in a bill of exchange, note, or check as the one to whom the amount is directed to be paid compare drawee, drawer Merriam Webster’s Dictionary of Law.… …   Law dictionary

  • Payee — Pay*ee , n. The person to whom money is to be, or has been, paid; the person named in a bill or note, to whom, or to whose order, the amount is promised or directed to be paid. See {Bill of exchange}, under {Bill}. [1913 Webster] …   The Collaborative International Dictionary of English

  • payee — (n.) 1758, from PAY (Cf. pay) (v.) + EE (Cf. ee) …   Etymology dictionary

  • payee — ► NOUN ▪ a person to whom money is paid or to be paid …   English terms dictionary

  • payee — [pā ē′] n. the person to whom a payment is made or owed …   English World dictionary

  • payee — person to whom money is paid See drawee A person receiving payment through any form of money transfer method. Bloomberg Financial Dictionary * * * payee pay‧ee [peɪˈiː] noun [countable] 1 …   Financial and business terms

  • Payee — The party in an exchange who receives payment. A payee is paid in cash, check or other transfer medium by a payer, with the payer receiving a good or service in return. The name of the payee is included in the bill of exchange. In the case of a… …   Investment dictionary

  • Payee Lake — Infobox lake lake name = Siri Lake image lake = Payee Lake Background View July 8 2007.jpg caption lake = image bathymetry = caption bathymetry = location = Kaghan Valley coords = type = inflow = outflow = catchment = basin countries = Pakistan… …   Wikipedia

  • Payee —   An ISO term. The third party beneficiary in a payment transaction. 25x.   The Payee in a cheque is the person named therein to whom, or to whose order, payment is directed to be made. STR uses the name entered in Beneficiary party as Payee.… …   International financial encyclopaedia

  • payee — UK [ˌpeɪˈiː] / US [ˌpeɪˈɪ] noun [countable] Word forms payee : singular payee plural payees the person who you pay a cheque or money to …   English dictionary

  • payee — A person to whom a payment is made or who is designated in a bill or note as the person to whom payment is to be made. The Commercial Code purports to settle the long continued conflict over the status of the payee as a holder in due course by… …   Ballentine's law dictionary

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