BANKING AFFAIRS

Detailed explanation-1: -The person or entity writing the check is known as the payor or drawer, while the person to whom the check is written is the payee. The drawee, on the other hand, is the bank on which the check is drawn.

Detailed explanation-2: -A drawee is the person or other entity that pays the owner of a check or draft. The holder of the check is the payee and the check writer the drawer. Most often, if you deposit a check, your bank or check-cashing service is the drawee.

Detailed explanation-3: -7. The maker of a bill of exchange or cheque is called the “drawer"; the person thereby directed to pay is called the “drawee". “Drawee in case of need".

Detailed explanation-4: -7. The maker of a bill of exchange or cheque is called the “drawer; ” the person thereby directed to pay is called the “drawee.” When in the bill or in any indorsement thereon the name of any person is given in additional to the drawee to be resorted to in case of need, such person is called a “drawee in case of need.”

Detailed explanation-5: -A payee is a person or organization that receives the cheque, whereas a drawee is a person or organization that issues the cheque.