What is Payee?
Payee The person or entity to whom a payment, such as a check, transfer, or remittance, is made or owed according to the instructions of a financial instrument or contract.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Payee” Used in Practice?
The payee must endorse the back of the check before depositing it into their account.
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Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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Download Free for iOSFrequently Asked Questions
What is Payee?
The person or entity to whom a payment, such as a check, transfer, or remittance, is made or owed according to the instructions of a financial instrument or contract.
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