Is Payee the Person Paying?

In the case of a promissory note, through which one party promises to pay another party a predetermined sum, the party receiving the payment is known as the payee. The party making the payment is known as the payer.

Is the payee me or the person I'm paying?

A payee is a person or organization that receives payment for goods or services. Payment can be in any form, including cash, a check, a money order, or an electronic transfer of funds. ... On a check, the payee is the person or organization to whom the check is written.

Who is a payee?

Who is a Payee? A payee refers to a party on one side of a transaction who receives payment. He is paid either by cash, cheque, or by any other transfer medium by the payer. In return, the payer may receive goods or services.