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English definition of “payee”

payee

noun [C]     /peɪˈiː/
FINANCE, BANKING a person that money or a cheque is paid to or should be paid to: They filled in the amount on the cheque, but left the payee's name blank. → Compare payer → See also account payee (only)
(Definition of payee noun from the Cambridge Business English Dictionary © Cambridge University Press)
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