check payee definition
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What is a 'Payee' A payee is the party in an exchange who receives payment. A payee is paid in cash, check or other transfer medium by a payer, with the payer receiving goods or services in return. The name of the payee is included in the bill of exchange, and it usually refers to a natural person or an entity such as a business, trust or custodian.
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- n. 1) what is commonly called a check which the signer requires the bank to pay a third party a sum of money. This is a holdover from the days when a person would draw up a bill of exchange. 2) a statement of what is owed. 3) any paper money. 4) a legislative proposal for enactment of a law.
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payer Definition of payer for English Language Learners. : a person, organization, etc., that pays or is responsible for paying something.
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- A representative payee helps beneficiaries who need assistance in managing their benefits. A representative payee’s responsibilities include: Using benefits to pay for the current and foreseeable needs of the beneficiaries; Appropriately saving any remaining benefits; and keeping good records of how you spend the benefits.
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Is there a difference between a loss payee and a lienholder? The loss payee and a lienholder may be separate entities or they may be both. To explain this let us look at each. Loss Payee: A person or entity with a legally secured insurable interest in another's property, usually a financial institution that loaned money to buy a car. The car is the loan collateral. If the auto is damaged in an accident, loss payments will be made to you and to the loss payee on your policy.
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Cashierâs Checks: Where To Get One, Cost & More by Richie Bernardo. A cashier’s check is a type of check issued by a bank or credit union and signed by a cashier or teller. Because the funds are drawn directly against the issuing bank’s cash reserves — not a customer’s personal account — the checks cannot bounce.
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- Payee/Beneficiary Bank: The bank submitting a check for set-off through E-Clearing System. 1-The date should be written in figures on the check in a full and accurate manner as the date is deemed a fundamental element of the check.
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Cashier's check From Wikipedia, the free encyclopedia. A cashier's check or cheque is a cheque guaranteed by a bank, drawn on the bank's own funds and signed by a cashier. Cashier's checks are treated as guaranteed funds because the bank, rather than the purchaser, is responsible for paying the amount. They are commonly required for real estate and brokerage transactions. Cashier's checks deposited into a bank account are usually cleared the next day.
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Who Signs the Remitter on a Cashier's Check? A remitter must be present at the time of the issuance of a cashier's check. She must be the person who pays for the check and its issuance fees. Beyond this requirement, the remitter may be the payee or a third party unless otherwise prohibited by local or state law. Show Comments.
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- Pay-O-Matic Check Cashing Corp. is licensed as a Check Casher by the New York State Department of Financial Services and is an authorized agent of the following Money Transmitters*: The Pay-O-Matic Corp., Western Union Financial Services, Inc., Softgate Systems, Inc., and Trans-Fast Remittance, LLC.
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omnibus account A check is physical, legal contract that effectively represents a promissory note to pay the amounts indicated in numeric and written values, to the payee designated in the pay to section. Your signature authorizes the amount indicated to be ... Read more
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payer (or payor) - Legal Definition payer (or payor) - Legal Definition. A person who pays a debt or who is obliged to pay a debt by some written instrument. Webster's New World Law Dictionary Copyright © 2010 by Wiley Publishing, Inc., Hoboken, New Jersey. Used by arrangement with John Wiley & Sons, Inc.
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- My two year old desexed female Staffy has recently started peeing and pooing in the house again. She is (was!) fully house trained and has access to the garden 24/7. Nothing about her feeding times, exercise, living arrangements, etc. has changed, and she recently got a clean bill of health from the vet.ur dogs are 5 and 3 years old and both have been potty trained since about six months old. Over the past two weeks our youngest dog has been pooping and peeing in the house while the oldest dog is pooping in the house.
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What does payee mean? The person who gave the money is the payer. The person who is the recipient of the money is the payee. If I pay you $100, on the receipt you would list me as the payer and you as the payee. kerry77 · 8 years ago. Thumbs up.
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PAYER Dictionary entry overview: What does payer mean? • PAYER (noun) The noun PAYER has 1 sense: 1. a person who pays money for something Familiarity information: PAYER used as a noun is very rare.
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What Are 3rd Party Checks? December 6, 2009. A third party check is one signed over by the intended recipient to someone else to deposit or cash. The original recipient must endorse the check first, ideally signing it over as pay to the order of followed by the name of the person he's giving to. That recipient then endorses it and deposits it into his own account.
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Checking A check is a written order on a credit union, bank, or savings institution, by the account owner, payable on demand to the person named on the check (payee), to that person's order, or the bearer. The check is drawn on funds on deposit in the account owner's checking account. check is a written order on a credit union, bank, or savings institution, by the account owner, payable on demand to the person named on the check (payee), to that person's order, or the bearer. The check is drawn on funds on deposit in the account owner's checking account.
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Cheque A cheque (or check in American English) is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.n English cheque from 1956 having a bank clerk's red mark verifying the signature, a two-pence stamp duty, and holes punched by hand to cancel it. This is a crossed cheque disallowing transfer of payment to another account.
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Endorsements The payee named on a check endorses the check on the back by writing his or her name exactly as it appears on the front of the check. Signing the back of the check completes negotiation of the item allowing the transfer of money ordered by the check. If more than one person is listed on the check as a Payee, then the requirements for endorsement depend on how the names are written.
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Payee - Definition and Examples Example: you write a check to pay the rent. Your landlord is the payee, and you write your landlord's name (or the business name) on the check. More examples of payees include: Any service provider you pay when paying bills (energy, phone, mortgage, or insurance, for example)
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Cheque A payee that accepts a cheque will typically deposit it in an account at the payee's bank, and have the bank process the cheque. In some cases, the payee will take the cheque to a branch of the drawee bank, and cash the cheque there.f the cheque is crossed with the words 'Account Payee' or similar then the cheque can only be paid into the bank account of the person initially named as the payee, thus it cannot be endorsed to a different payee.
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Cashier's Checks - Overview Cashier’s checks are checks issued and guaranteed by banks. The bank or credit union prints a document with the name of the recipient (or payee) and the amount, and that document can be used for payment just like any other check.
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(Paralegal) Forged checks: Who is liable? (Discussion) “A payor bank that pays a check with a forged payee endorsement has paid a check that is not properly payable and is liable to its customer, the drawer. UCC 4-401(a). This is the same rule as for a check with a forged drawer signature” (Mulford, 2009).
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What is a remitter on a cashiers check? Best Answer: A cashier's check is a check written for a stated amount of funds payable by the financial institution (bank, etc.) itself and not a private account ...
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"What Does the Word ""payor"" Mean?" The term payor, or payer, derives from the Latin word pac?re, which meant to pacify. In addition to being used as noun, payor can also be used as a verb to denote one is paying for something, such as a fine or service, or to note that one pays for something in metaphorical terms. The antonym of payor is payee, which means one to whom money is paid..
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- Windows Media Center. Insert the DVD into the Dell computer's optical drive. Click the Start icon on the Windows 7 taskbar to open the Start menu. Click All Programs in the lower-left corner of the Start menu to open a list of programs installed on the computer.Click PowerDVD DX to open CyberLink PowerDVD DX on the Dell computer.indows Media Center. Insert the DVD into the Dell computer's optical drive. Click the Start icon on the Windows 7 taskbar to open the Start menu. Click All Programs in the lower-left corner of the Start menu to open a list of programs installed on the computer. Click Windows Media Center..