Payee
/ˌpeɪˈiː/
Definition 1 of 1
Pro Tip 1/3Financial Context
Payee occurs frequently in banking and finance, always referring to money receivers. 
Please write the payee's full name under 'Beneficiary' in the transfer form.
Pro Tip 2/3Documents and Forms
On checks and payment forms, 'payee' indicates who should receive the funds. 
Make sure the payee's details are correct to avoid transaction issues.
Pro Tip 3/3Not Always Individuals
Payee can refer to organizations or businesses, not just individual people. 
The payee on the electricity bill is the power company, not a person.