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What is called when someone is receiving a check?
The person receiving the cheque, is the 'payee' - the person sending the cheque is the 'payer'.
Who is the payee bank?
The bank receiving the money is the payee. The payee gets whatever from the payer.
What is the difference between payee and beneficiary in banking transactions?
payee is a person on whose life expectancy the insurance poilicy is issued. beneficiary is a person who receives the death benefits if the insured dies
On a promissory note who is the payee?
The payee is the person to whom the money is owed.The payee is the person to whom the money is owed.The payee is the person to whom the money is owed.The payee is the person to whom the money is owed.
What is difference between payor and payee?
payee is the person who is to be paid payor is who pays to the payee
What is Payee in banking transaction?
A payee is a person who will receive the funds.
What is the difference between payor and payee?
The payer is the person that is paying a sum of money to the payee. The payer signs the check and the payee is the person who cashes the check.
What is the definition of a 'payor'?
A payment is the transfer of wealth from one party (such as a person or company) to another. A payer is the party making a payment. The payee is the party receiving the payment.
What check does not require a payee?
All checks require a payee. Payee is the person who is going to use the check and get the money. You cannot issue a check that does not have a payee.
What is a payee?
The payee is the one that receives a payment. On a check or money order, the payee is the person the check is made out to. This is the person who can cash the check, or deposit it into his account. On a promissory note he is the one who receives the money from the loan.
A person to whom A cheque is made out ARE called?
payee
What does account payee mean?
payee is the person whom the cheque, draft or money order is made out to.
