BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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payee
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drawer
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banker
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drawee
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Detailed explanation-1: -A ‘Payee’ is the person named in money order as the person to whom the money is to be paid .
Detailed explanation-2: -The payee is the party that receives the money you’re sending via money order. This could be a person, if you’re making a cash payment to an individual. Or it could be the name of a business, if you’re using the money order to pay a bill.
Detailed explanation-3: -noun. pay·ee ˌpā-ˈē : a person to whom money is to be or has been paid. specifically : the person named in a bill of exchange, note, or check as the one to whom the amount is directed to be paid compare drawee, drawer.
Detailed explanation-4: -Generally, the payee is the person to whom you make the payment, regardless of whether that person is the beneficial owner of the income.
Detailed explanation-5: -A payee is the recipient of a payment.