Definition
The person or entity to whom a cheque is made payable. The payee is the intended recipient of the funds.
Example
In a cheque written to 'ABC Company', ABC Company is the payee.
Glossary Term
Payee
Letter P
Letter P
The person or entity to whom a cheque is made payable. The payee is the intended recipient of the funds.
In a cheque written to 'ABC Company', ABC Company is the payee.