What does PAYEE mean?

Payee

Parts of Speech: Noun

Definition: The person or entity to whom a payment is made or owed.

Pronunciations: US: /peɪˈi/ | UK: /peɪˈiː/

Origin and Usage: The word "payee" originated in the mid-18th century from the verb "pay" with the suffix "-ee," which indicates a recipient. The term is commonly used in financial transactions, such as checks, invoices, and bills.

Synonyms: Recipient, beneficiary, receiver, collector, holder

Related Words: Payer, money, funds, bills, checks

Example Sentences:

• The company issued a check to the payee for the amount owed.
• The payee must provide a valid identification to receive the payment.
• The invoice must indicate the name and address of the payee.
• The payee can endorse the check to transfer it to another person.
• The bank is responsible for verifying the account information of the payee.