account payee (only) Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “account payee (only)” in the English Dictionary

"account payee (only)" in Business English

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account payee (only)noun [S]

uk   us   ( written abbreviation a/c payee (only)) BANKING
in the UK, words written vertically in the ​centre of a cheque (= a ​printedform used for ​payingmoney out of your ​bankaccount). 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) from the Cambridge Business English Dictionary © Cambridge University Press)
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