Outrageously Funny Word Dictionary :: Payee

👉 Payees are individuals or organizations who receive funds on behalf of another party, such as a bank or credit card company. They typically hold the money and are responsible for its custody and security during the transaction. Payees can be involved in various transactions, including cash payments, checks, and transfers made through electronic payment systems like SWIFT or Net Banking. In some cases, payees may also act as intermediaries between the buyer and seller, facilitating the exchange of goods or services. The term "

payees

👉 Payee is a person or entity that has to pay a sum of money or goods to another person or entity. In general, payees are responsible for making payments and can be individuals, companies, organizations, or government entities. The term "payee" is often used in financial transactions to indicate who will receive the payment or goods. It is important to note that the payment may also include a reference number or other information that allows the recipient to verify the authenticity of the transaction.

payee