Quick Answer: What Is The Opposite Of A Payee?

What does inheritor mean?

noun.

a person who inherits; heir..

What is a payment called?

The party making a payment is commonly called the payer, while the payee is the party receiving the payment. Payments can be effected in a number of ways, for example: the use of money, cheque, or debit, credit or bank transfers.

What is a debtor and a creditor?

In short, a creditor is someone who lends money while a debtor is someone who owes money to a creditor.

Is the payee the recipient?

You typically encounter payees when banking. On a check, the payee is the person or organization to whom the check is written. For online payments, you provide payee (or recipient) information when setting up automatic transfers.

What is the opposite word of payment?

What is the opposite of payment?penaltypunishmentconsequencesanctionfinepenalizationreparationsentenceamercementforfeit7 more rows

What is the meaning of beneficiary?

a person or group that receives benefits, profits, or advantages. a person designated as the recipient of funds or other property under a will, trust, insurance policy, etc.

What is it called when you pay for something over time?

Arrears (or arrearage) is a legal term for the part of a debt that is overdue after missing one or more required payments. … Payment in arrear is a payment made after a service has been provided, as distinct from in advance, which are payments made at the start of a period.

What is an example of a creditor?

The definition of a creditor is a person to whom money is owed or someone who provides credit. An example of a creditor is a credit card company. One to whom money or its equivalent is owed. A person who extends credit or to whom money is owed.

What is the opposite of a beneficiary?

Opposite of a person who derives advantage from something, especially a trust, will, or life insurance policy. benefactor. giver. payer. donor.

What is another word for beneficiaries?

beneficiaryheir, heiress, inheritor, legatee.recipient, receiver, payee, donee, assignee.devisee, grantee, cestui que trust.heritor.

Does a payee get paid?

Are Representative Payees Paid? Individual representative payees cannot collect a fee for services provided to the beneficiary. If you are the legal guardian of the beneficiary, however, you may be able to collect a guardian fee if the court has authorized it.

What is it called when you pay for something monthly?

Noun. Payment of money on a monthly basis. monthly remittance.

What is another word for user?

Synonyms for userbuyer.customer.purchaser.shopper.enjoyer.end user.

Who is payer and payee?

Understanding Payee 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.

What is another name for beneficiary?

In this page you can discover 36 synonyms, antonyms, idiomatic expressions, and related words for beneficiary, like: benefice-holder, inheritor, recipient, receiver, payee, legatee, heiress, possessor, successor, assignee and donee.

What are the duties of a payee?

A payee’s main duties are to use the benefits to pay for the current and future needs of the beneficiary, and properly save any benefits not needed to meet current needs. A payee must also keep records of expenses.

What is a heiress?

noun. a woman who inherits or has a right of inheritance, especially a woman who has inherited or will inherit considerable wealth.

Is a debtor?

A debtor is a company or individual who owes money. If the debt is in the form of a loan from a financial institution, the debtor is referred to as a borrower, and if the debt is in the form of securities – such as bonds – the debtor is referred to as an issuer.

What is the opposite of a creditor?

A debtor is the opposite of a creditor – it refers to the person or entity who owes money.