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English definition of “a/c payee (only)”

a/c payee (only)

noun [S]     BANKING
written abbreviation for account payee (only): in the UK, words written vertically in the centre of a cheque (= a printed form used for paying money out of your bank account ). The words show that the cheque must be paid only into the account of the person to whom it is written: Crossing a cheque with a/c payee means that the cheque cannot be used by someone else .
(Definition of a/c payee (only) noun from the Cambridge Business English Dictionary © Cambridge University Press)
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