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  2. Share Prices
  3. Finance Glossary
  4. Terms Beginning With A
  5. Account Payee Only

Account Payee Only

Definition of 'Account Payee Only'

This states that a cheque can only be paid into the account of the person name on the cheque, the payee. This effectively means that the payee cannot sign the cheque over to another person.

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Related Terms

Account PayeeExclusive DealingCurrent AccountCancellation RightPerfectly Competitive MarketAMPSAppropriation AccountCMADirect DebitExchange Equalisation AccountExchange Equalization AccountMargin AccountMargin AgreementNostro AccountWire TransferAccidental Death InsuranceAccrued InterestAction for DamagesActual Settlement Date Accounting (ASDA)Book/Box

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