Who's the payee? The bank or the account holder?

Question

Hello there. Today I had to make a bank transfer and I was asked to write the name of the payee.

Which one is the payee? the bank of the person that I'm going to pay to or the account holder himself?

Thank you.

Thanks to everyone who just answered to this question. Thanks for clearing that up ;)

New readers, you dont have to answer anything else if you dont want to :) unless you are going to give me more information ;) Thanks in advance.

Answer 1

The payee is the person/organisation being paid. Therefore in your case, it's the person receiving the funds.

Answer 2

The Payee is the person (account holder)you are going to make the bank transfer to.

Answer 3

The Payee is the person you are writing the check to. Like when you get your pay check the Payee is you letting the bank know the check is yours and only you should receive the money for deposit or to cash out.

Answer 4

Payee = person receiving payment. You may see on cheques, A/C payee only. That means that only an account of the payee can cash the cheque regardless of which bank that account is in.

Answer 5

In all cases, the "payee" is the one being paid and the "payer" is the one doing the paying. So, you were the payer and person you were paying was the payee.

Answer 6

The bank account holder

Answer 7

The payee is the party that receives the money. In contrast, the payor is the party that pays the money.

Answer 8

the payer is the person who writes out the cheque -
the payee is the person being paid.

Answer 9

It is the person or bank being paid. You are the payer.

Answer 10

That's who you are paying