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English definition of “account payee (only)”

account payee (only)

noun [S]     ( written abbreviation a/c payee (only)) BANKING
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.
(Definition of account payee (only) noun from the Cambridge Business English Dictionary © Cambridge University Press)
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