Words / P / Business

payee

noun/peɪˈiː/

B1CEFR level
30/100Rarity: fairly common
TechnicalRegister

The person or party to whom a payment is made.

Before the bank would release the transfer, she had to add the plumber as a verified payee.

Similar: recipient, beneficiary

Topic: Finance in Business English

Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.

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More business words: Finance