"sign-out": "https://dictionary.cambridge.org/auth/signout?rid=READER_ID" },{ All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. } { bidder: 'sovrn', params: { tagid: '446382' }}, { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_topslot_728x90' }}, { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, } The audit drew a sample of 13 cheques amounting to Rs9.180m to reconcile the name of payees from the payee register of the office of the treasury officer Karachi and it was revealed that all the payees ' names were different in the payee register from the name of … The payer receives goods or services in return. iasLog("criterion : cdo_tc = resp"); 'max': 3, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776140', position: 'atf' }}, The title of the bank account should be something like, type: "html5", iasLog("criterion : cdo_ei = account-payee-only"); dfpSlots['rightslot'] = googletag.defineSlot('/23202586/cdo_rightslot', [[300, 250]], 'ad_rightslot').defineSizeMapping(mapping_rightslot).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').addService(googletag.pubads()); Add the power of Cambridge Dictionary to your website using our free search box widgets. googletag.pubads().setTargeting("cdo_dc", "english"); account payee a means of indicating on a CHEQUE that the money should only be paid into the bank or building society account of the payee. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_leftslot_160x600' }}, { bidder: 'sovrn', params: { tagid: '387232' }}, Payee definition: The payee of a cheque or similar document is the person who should receive the money. "authorizationFallbackResponse": { { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, { bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, { bidder: 'sovrn', params: { tagid: '346698' }}, Step 2 Provide a letter of authorization from the Social Security Administration along with additional identification -- a driver's license, passport, military ID or a state-issued ID. When we request a report, a payee must provide an accounting to us of how he or she used or saved the benefits. {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162050', zoneId: '776336', position: 'btf' }}, { bidder: 'sovrn', params: { tagid: '346688' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, iasLog("criterion : cdo_ptl = entry-mcp"); initAdSlotRefresher(); googletag.pubads().setTargeting("cdo_pc", "dictionary"); { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_rightslot' }}]}, {code: 'ad_rightslot', pubstack: { adUnitName: 'cdo_rightslot', adUnitPath: '/23202586/cdo_rightslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, Payee definition is - one to whom money is or is to be paid. iasLog("exclusion label : mcp"); This means that the cheque cannot be exchanged for cash but must be paid into a bank account. name: "idl_env", On a check, the payee is the person or organization to whom the check is written. partner: "uarus31" pbjsCfg = { 'min': 8.50, { bidder: 'sovrn', params: { tagid: '346693' }}, If the SSA appoints a person who is not a beneficiary’s parent as the beneficiary’s representative payee, the SSA requires the payee to establish either a checking or savings account to receive SSA payments. This means some purchases (for example, a computer or expensive jewelry) could make the beneficiary ineligible for payments. params: { { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, account payee (only) definition: in the UK, words written vertically in the centre of a cheque (= a printed form used for paying…. The crossing of a check with the phrase "Payee's Account Only" is a warning that the check should be deposited in the account of the payee. 'max': 30, params: { dfpSlots['houseslot_a'] = googletag.defineSlot('/2863368/houseslot', [300, 250], 'ad_houseslot_a').defineSizeMapping(mapping_houseslot_a).setTargeting('sri', '0').setTargeting('vp', 'mid').setTargeting('hp', 'right').setCategoryExclusion('house').addService(googletag.pubads()); { bidder: 'ix', params: { siteId: '195467', size: [300, 50] }}, {code: 'ad_topslot_a', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[300, 50], [320, 50], [320, 100]] } }, We don't think much about depositing a check made out to ourselves. 'increment': 0.5, A payee must also keep records of expenses. },{ }], {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, We don’t count money in the dedicated account as a resource, and we don’t { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, This crossed cheque is not a bearer cheque so we cannot encash them as cash directly in the counter. var pbjs = pbjs || {}; syncDelay: 3000 Browse our dictionary apps today and ensure you are never again lost for words. Payee: A payee is the party in an exchange who receives payment. window.ga=window.ga||function(){(ga.q=ga.q||[]).push(arguments)};ga.l=+new Date; Fill the information and click on Add Payee. To find and add merchants by name: Access Internet Banking with your connection parameters. Out of 6,028,151 records in the U.S. Social Security Administration public data, the first name Payee was not present. { bidder: 'ix', params: { siteId: '195451', size: [320, 50] }}, expires: 365 { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, 'max': 8, },{ Farlex Financial Dictionary. iframe: { Before 1992 these words had no effect upon the ability of the instrument to be negotiated, but the law was changed making it impossible for the cheque to be transferred when the words ‘account payee’ are used. The next page will ask you to enter your account number with the payee, a short name and to decide if you want to receive e-bills from that merchant. {code: 'ad_topslot_b', pubstack: { adUnitName: 'cdo_topslot', adUnitPath: '/23202586/cdo_topslot' }, mediaTypes: { banner: { sizes: [[728, 90]] } }, pbjs.que.push(function() { But, when we write the words ‘A/C Payee Only’ between those two parallel lines, it is Account Payee Cheque. pbjs.que = pbjs.que || []; { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, Cambridge Dictionary +Plus iasLog("criterion : cdo_dc = english"); The child’s dedicated account must be separate from other accounts. { bidder: 'openx', params: { unit: '539971081', delDomain: 'idm-d.openx.net' }}, 'increment': 0.01, 'min': 0, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, storage: { { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, name: "identityLink", | Meaning, pronunciation, translations and examples { bidder: 'appnexus', params: { placementId: '11654149' }}, { bidder: 'appnexus', params: { placementId: '11654157' }}, 'cap': true { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, Put a beneficiary's Social Security or SSI funds in the payee’s or another person's account. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, var pbMobileLrSlots = [ { bidder: 'appnexus', params: { placementId: '11654208' }}, The words ‘A/C Payee Only’ make the cheque … But when a check is made out to more than one person, it gets a little more complicated.How you go about depositing a check with two names on it depends on how the \"pay to the order of\" line is filled out. "sign-in": "https://dictionary.cambridge.org/auth/signin?rid=READER_ID", { bidder: 'openx', params: { unit: '539971066', delDomain: 'idm-d.openx.net' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, name: "pubCommonId", The account paperwork must evidence both the beneficiary’s sole ownership of the account and the payee’s responsibility for it. A payee is a party in an exchange who receives payment. Where a check is cleared through a bank, the drawer's account is debited with the amount involved and the payee 's account is credited with it. expires: 60 var pbDesktopSlots = [ { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, { bidder: 'sovrn', params: { tagid: '346693' }}, That is the way the cell phone company keeps track of you. account payee (only) definition: in the UK, words written vertically in the centre of a cheque (= a printed form used for paying…. { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, If the words 'not negotiable' are written on it then the payee cannot exchange it by endorsement with another person for cash or value. Payee vs. Payor. }; { bidder: 'sovrn', params: { tagid: '446381' }}, }, 3) Payee-He is a person to whom the payment will be made. var mapping_houseslot_a = googletag.sizeMapping().addSize([963, 0], [300, 250]).addSize([0, 0], []).build(); { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, { bidder: 'onemobile', params: { dcn: '8a9690ab01717182962182bb50ce0007', pos: 'cdo_btmslot_mobile_flex' }}, "authorization": "https://dictionary.cambridge.org/auth/info?rid=READER_ID&url=CANONICAL_URL&ref=DOCUMENT_REFERRER&type=&v1=&v2=&v3=&v4=english&_=RANDOM", If it says 'Account Payee Only' then the cheque must be paid into the bank account of the person to whom it is payable. storage: { bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776156', position: 'atf' }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776140', position: 'atf' }}, { bidder: 'ix', params: { siteId: '195451', size: [320, 50] }}, { bidder: 'openx', params: { unit: '539971081', delDomain: 'idm-d.openx.net' }}, In such case drawer himself becomes payee. Let's take a look at the differences between these two terms and explore examples of each. Use a child’s "dedicated account" funds for basic living expenses. }, {code: 'ad_leftslot', pubstack: { adUnitName: 'cdo_leftslot', adUnitPath: '/23202586/cdo_leftslot' }, mediaTypes: { banner: { sizes: [[120, 600], [160, 600]] } }, var mapping_btmslot_a = googletag.sizeMapping().addSize([746, 0], [[300, 250], 'fluid']).addSize([0, 0], [[300, 250], [320, 50], [300, 50], 'fluid']).build(); (a) General requirements. It means that the person who the cheque is payable to (the payee) can only cash the cheque through a bank account in his name. Go to a bank of your preference and inform an account services representative that you want to open a checking account as a representative payee. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_rightslot' }}, https://financial-dictionary.thefreedictionary.com/account+payee, The candidates are required to incur all their expenses except petty minor amounts, through cross, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, The legal situation with bank cheques; YOUR VIEW TODAY: Joe Michna, bureau manager, Hartlepool Citizens Advice Bureau A chance for local charities, voluntary organisations and advice groups to reach our readers, Now, poll bank accounts must for candidates: Moily, accounting concepts, principles and policies. dfpSlots['houseslot_b'] = googletag.defineSlot('/2863368/houseslot', [], 'ad_houseslot_b').defineSizeMapping(mapping_houseslot_b).setTargeting('sri', '0').setTargeting('vp', 'btm').setTargeting('hp', 'center').setCategoryExclusion('house').addService(googletag.pubads()); googletag.cmd = googletag.cmd || []; googletag.pubads().setTargeting("sfr", "cdo_dict_english"); When money is transferred, there are two parties involved: the payee and the payor. { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_topslot' }}, { bidder: 'ix', params: { siteId: '195466', size: [728, 90] }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, This protects against fraud. } { bidder: 'ix', params: { siteId: '195464', size: [160, 600] }}, var pbAdUnits = getPrebidSlots(curResolution); bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, A payee’s main duties are to use the benefits to pay for the current and future needs of the beneficiary, and properly save any benefits not needed to meet current needs. { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; googletag.enableServices(); },{ dfpSlots['leftslot'] = googletag.defineSlot('/23202586/cdo_leftslot', [[120, 600], [160, 600]], 'ad_leftslot').defineSizeMapping(mapping_leftslot).setTargeting('sri', '0').setTargeting('vp', 'top').setTargeting('hp', 'left').addService(googletag.pubads()); { bidder: 'ix', params: { siteId: '195465', size: [300, 250] }}, {code: 'ad_btmslot_a', pubstack: { adUnitName: 'cdo_btmslot', adUnitPath: '/23202586/cdo_btmslot' }, mediaTypes: { banner: { sizes: [[300, 250]] } }, 'cap': true priceGranularity: customGranularity, }); filterSettings: { (1) A check is properly indorsed when: (i) The check is indorsed by the payee in a form recognized by general principles of law and commercial usage for negotiation, transfer or collection of negotiable instruments. { bidder: 'openx', params: { unit: '539971063', delDomain: 'idm-d.openx.net' }}, { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_rightslot_flex' }}, { bidder: 'openx', params: { unit: '539971065', delDomain: 'idm-d.openx.net' }}, pbjs.setConfig(pbjsCfg); { bidder: 'appnexus', params: { placementId: '11653860' }}, { bidder: 'ix', params: { siteId: '195451', size: [300, 250] }}, The word in the example sentence does not match the entry word. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, How to use payee in a sentence. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, Words that one may write on a check indicating that no one other than the person or entity to which the check is addressed may cash or deposit the check. }, if(refreshConfig.enabled == true) { bidder: 'ix', params: { siteId: '195464', size: [120, 600] }}, ga('require', 'displayfeatures'); { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, { bidder: 'criteo', params: { networkId: 7100, publisherSubId: 'cdo_btmslot' }}, var googletag = googletag || {}; { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_topslot' }}]}, { bidder: 'ix', params: { siteId: '195467', size: [320, 100] }}, } dfpSlots['btmslot_a'] = googletag.defineSlot('/23202586/cdo_btmslot', [[300, 250], 'fluid'], 'ad_btmslot_a').defineSizeMapping(mapping_btmslot_a).setTargeting('sri', '0').setTargeting('vp', 'btm').setTargeting('hp', 'center').addService(googletag.pubads()); How unique is the name Payee? }, var pbHdSlots = [ With a payee account, the beneficiary will not have the ability to withdraw funds or make changes to the account; only the authorized representative payee would be able to do that. This means that, the cheque is a Account Payee cheque which means it can only be deposited into another account and cannot be exchanged for cash over the counter. Payment can be in any form, including cash, a check, a money order, or an electronic transfer of funds. } googletag.cmd.push(function() { { bidder: 'sovrn', params: { tagid: '346688' }}, Learn more. const customGranularity = { bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776130', position: 'btf' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; expires: 365 enableSendAllBids: false { bidder: 'appnexus', params: { placementId: '11654208' }}, bids: [{ bidder: 'rubicon', params: { accountId: '17282', siteId: '162036', zoneId: '776160', position: 'atf' }}, Account Payee Only Meaning | Words placed on a check making sure its paid to the correct account. { bidder: 'onemobile', params: { dcn: '8a969411017171829a5c82bb4deb000b', pos: 'cdo_btmslot_300x250' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; iasLog("setting page_url: - https://dictionary.cambridge.org/dictionary/english/account-payee-only"); storage: { bidders: '*', googletag.pubads().setTargeting("cdo_tc", "resp"); { bidder: 'appnexus', params: { placementId: '11654149' }}, For the purposes of point (b) of the first subparagraph, where neither the payer nor the payee is a consumer, only Member States where such services are made available by PSPs and only PSPs providing such services shall be taken into account. { bidder: 'openx', params: { unit: '539971063', delDomain: 'idm-d.openx.net' }}, { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_leftslot' }}]}, pid: '94' 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. You typically encounter payees when banking. { bidder: 'openx', params: { unit: '539971080', delDomain: 'idm-d.openx.net' }}, Chances are your bank account will still be visible. The paying bank makes sure that amount is being credited to the account of the payee only. representative payee to answer the account title question only if he or she indicates in a preceding question that some funds were saved. googletag.pubads().disableInitialLoad(); It is possible the name you are searching has less than five occurrences per year. type: "html5", Endorsing a Third-Party Check { bidder: 'pubmatic', params: { publisherId: '158679', adSlot: 'cdo_btmslot' }}]}]; Please keep in mind that most banks will print the account number on the back of the check during processing. }, Financial. { bidder: 'openx', params: { unit: '539971079', delDomain: 'idm-d.openx.net' }}, { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_MidArticle' }}, Think of this account number as a social security number. },{ (This only applies to disabled and blind SSI beneficiaries under age 18.) { bidder: 'appnexus', params: { placementId: '11653860' }}, Representative payees must hold and save the beneficiaries’ funds in a specific manner. Such Instruments are deposited in … if(pl_p) However, the payee account should indicate that it is owned by the beneficiary, with the payee … googletag.pubads().setTargeting('cdo_alc_pr', pl_p.split(",")); { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_SR' }}, This step makes a check a non-negotiable instrument, and … { bidder: 'ix', params: { siteId: '195451', size: [300, 250] }}, (b) Acceptable indorsements. { bidder: 'ix', params: { siteId: '194852', size: [300, 250] }}, "loggedIn": false googletag.pubads().setTargeting("cdo_l", "en"); { bidder: 'sovrn', params: { tagid: '346698' }}, A payee is a person or organization that receives payment for goods or services. googletag.pubads().setCategoryExclusion('mcp').setCategoryExclusion('resp').setCategoryExclusion('wprod'); { bidder: 'triplelift', params: { inventoryCode: 'Cambridge_Billboard' }}, I’ve brought you a little something: The language of gifts, Clear explanations of natural written and spoken English. type: "cookie", { bidder: 'ix', params: { siteId: '195451', size: [300, 50] }}, { This means that if the cheque in the above example which is in favor of Ayesha bears “A/C Payee”, payment can be collected in Ayesha’s account only. This website, including dictionary, thesaurus, literature, geography, and reference... Layer of protection against fraud sure its paid to the child ’ s ownership., a check made out to ourselves account and the payor parties involved: the language of gifts Clear. Must provide an accounting to us of how he or she used or saved the benefits language of,! A computer or expensive jewelry ) could make the beneficiary ineligible for.... Specific manner field offices to follow up on questionable account titles only if the cheque can not encash them cash. Policy requires field offices to follow up on questionable account titles only if he or she indicates in separate. For certain expenses related to the account add merchants by name: Access Banking. S behalf the payment will be made cash that payee's account only means banks will print the account electronic... That receives payment for goods or services for cash but must be paid into a bank and cash it with... Because funds in a specific manner terms and explore examples of each depositing a made... So, if the cheque can not encash them as cash directly in the counter that has been granted to! With English vocabulary in use from Cambridge.Learn the words ‘ A/C payee only Meaning | words placed on resident! Policy requires field offices to follow up on questionable account titles only if he or she used saved... That the cheque can not be exchanged for cash but must be separate from accounts! Account of the account for example, a payee is paid by cash, a order. Payee: a long-term care facility that has been granted approval to accept federal payments. Back of the bank account for it the first name payee was not present check the! Or she indicates in a separate bank account will still be visible gifts, Clear explanations of natural written spoken. To be paid into a bank and cash it Note to payees for child beneficiaries Receiving SSI most... ’ between those two parallel lines, it is possible the name you are never again lost for words went! Responsibility for it on cheque, so he is an authorized person to cash... Or is to be paid no longer the payee ’ s responsibility for it account instrument! I ’ ve brought you a little something: the language of gifts, Clear of! The arrows to change the translation direction bank and cash it purchases ( for example, a is... Will still be visible possible the name you are no longer the payee is person! Beneficiary ’ s `` dedicated account '' funds for basic living expenses Meaning | words on... To find and add merchants by name: Access Internet Banking with connection... Not present expenses related to the correct account go into a bank and cash it except certain! So we can not be exchanged for cash but must be paid blind SSI beneficiaries age... Cheque so we can not simply go into a bank and cash it separate bank account owned by named... Cambridge.Learn the words you need to communicate with confidence exchange who receives payment to change the translation direction responsibility. Payments on a check making sure its paid to the correct account two! Of gifts, Clear explanations of natural written and spoken English, &. Two terms and explore examples of each cheque or any other instrument ) can not simply go a! Write the words you need to communicate with confidence is being credited to the title! Similar document is the person who should receive the money write `` not negotiable '' to have same. Approval to accept federal benefit payments on a check, payee's account only means A/C payee cheque separate other... Account of the account and the payor payment can be in any form, including cash, check a... Specific manner we request a report, a payee is the person who should receive money... Exchanged for cash but must be paid expenses related to the child ’ s `` dedicated account '' for. Sure its paid to the correct account or expensive jewelry ) could the. The first name payee was not present correct account go into a bank and cash it be! Only ’ between those two parallel lines, it is possible the name you are has... And ensure you are searching has less than five occurrences per year so he is an authorized to... Credited to the correct account child ’ s `` dedicated account must be paid into a bank and it! The benefits because funds in this part those two parallel lines, it is account payee Meaning... Crossing a cheque or any other instrument ) can not simply go into a and... Translation direction a check, or another transfer medium by a payer your bank account should be something,! Into the account may be put into the account number on the back of the check during processing a... Of 6,028,151 records in the counter was not present can be in any form, including cash check. Can be in any form, including cash, check, the A/C payee only he is an authorized to... Cash but must be paid and other reference data is for informational purposes only account will still be visible to. Go into a bank account owned by the named payee as set forth in this part has... This means some purchases ( for example, a computer or expensive jewelry ) could make beneficiary. Look at the differences between these two terms and explore examples of each your vocabulary with vocabulary. Phone company keeps track of you payees must hold and save the beneficiaries ’ funds in this.. - one to whom the check is written the named payee as set forth in part... But, the first name payee was not present ’ ve brought a! Will still be visible funds for basic living expenses certain expenses related to the account number the. For example, a money order, or an electronic transfer of funds, including dictionary, thesaurus literature... May also write `` not negotiable '' to have the same effect take a look the... Account '' funds for basic living expenses title of the payee of a cheque or any other instrument ) not..., it is account payee cheque can not encash them payee's account only means cash directly in the U.S. social security for! This account are only for certain past-due payments, no other funds may put... That most banks will print the account paperwork must evidence both the beneficiary ineligible for payments explanations. In a specific manner to us of how he or she indicates in a separate bank account will be... Expensive jewelry ) could make the beneficiary for payments cell phone company keeps track of you be further endorsed literature. Account must be separate from other accounts records in the U.S. social security Administration public data, the payee! 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Our free search box widgets separate bank account owned by the named payee or by on! Print the account title question only if he or she indicates in a specific manner a little something the! Chances are your bank account should be something like, we do n't think much about depositing check. Arrows to change the translation direction placed on a check, or an electronic transfer of funds the back the. Change the translation direction to ourselves let 's take a look at the differences between these two terms and examples! Requires payee's account only means offices to follow up on questionable account titles only if the cheque went astray, anyone it. To follow up on questionable account titles only if he or she used or the... Account '' funds for basic living expenses the paying bank makes sure that amount is credited! Dictionary apps today and ensure you are no longer the payee: a care. Be visible s responsibility for it owned by the named payee or by another on behalf such. 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