- The payee must endorse the back of the check.
Examples of payee in a Sentence
The payee must endorse the back of the check.
Recent Examples of payee from the Web
Four days later, my mailbox held a thin cardboard flat-rate package with nothing inside but a startlingly realistic check with my name typed on the payee line.
According to court documents, Madden would generate checks for the phony purchase orders by putting tape over the payee line and put the company name on the tape.
Sign up for account alerts through your bank so that you're notified of every deposit, every cash withdrawal, any new payee, etc.
In the case of KOIN, a committee consisting of people in the blockchain and financial markets divide the eligible stocks into four categories: cryptocurrency payees, mining enablers, solutions providers and blockchain adopters.
The financial records the Committee seeks show only the name of the payer or the payee, the amount of the payment, and certain identifying information.
Due to the disparity in tax rates that exist in these cases, this would have a negative effect on the payee.
Most people without a representative payee do have other potential sources of help, often a family member such as a spouse or child.
Based on one person’s judgment call, arrangements are made to have the government’s check sent to a representative payee.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'payee.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of PAYEE
What It Is
The term "payee" refers to an individual or entity that will receive a payment. It can also be referred to as the beneficiary in situations that pertain to a benefactor.
How It Works
An example of a payee in a check is one whose name appears in the caption "Pay to the Order of" on most checks.
Why It Matters
The payee is the one with legal rights to a payment. It is therefore essential to decipher who the individual or entity is that is to receive payment in any financial transaction. In any contract of a financial transaction where it is unclear who the payee and payer are, the contract may be invalid or there may be provisions within the law about how to determine rights in such situations.
PAYEE Defined for English Language Learners
: a person or organization that receives money : a person or organization that is paid
Seen and Heard
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