creditor vs payee

Both 'creditor' and 'payee' are correct terms, but they are used in different contexts. 'Creditor' refers to a person or entity to whom money is owed, while 'payee' refers to a person or entity who receives payment. They are not interchangeable as they represent different roles in a financial transaction.

Last updated: March 24, 2024 • 1158 views

The term 'creditor' is correct and commonly used in financial contexts to refer to a person or entity to whom money is owed.

"creditor"

Use 'creditor' to refer to a person or entity that is owed money by another party. For example, 'The creditor demanded payment on the outstanding debt.'

Examples:

The creditor filed a lawsuit to recover the debt.
The creditor agreed to a payment plan with the debtor.
The creditor's rights are protected under the law.
The creditor approved the loan application.
The creditor received the payment in full.

Show examples from the web [+]

EF thus became TB's biggest creditor.
Recourse to bailiffs is of course the prerogative of the creditor.
The latter institution shall transfer the amount deducted to the creditor institution.
Old Larco is therefore a creditor of Larco.
The open pre-financing and creditor balances are also reduced by the validated amount.
The open pre-financing and creditor balances are then reduced by the validated amount.
The Fidelity Bank and Trust is a tough creditor.
A creditor's motive is not relevant;
The European Parliament report has put forward alternative solutions to improve creditor protection.
It means companies would be able to choose between a solvency-based or capital-maintenance-based creditor protection regime.
The creditor shall provide evidence of its claims and proof that its international interest has been registered.
Other interests, e.g. creditor protection, are not affected.
Debt cancellation is not without cost for the creditor countries.
The creditor is also very familiar with that place.
This Directive should not oblige a creditor to claim interest for late payment.
This Directive should prohibit abuse of freedom of contract to the disadvantage of the creditor.
In the ongoing liquidation process CNB is the sole creditor of AGB.
Indications between square brackets provide explanations for the creditor and must be replaced with the corresponding information.
Repayment in insolvency proceedings, by creditor
The actual amounts per creditor are shown in the following table.

Alternatives:

lender
debt holder
money owed party
loan provider
financial institution

The term 'payee' is correct and commonly used in financial contexts to refer to a person or entity who receives payment.

"payee"

Use 'payee' to refer to the recipient of a payment. For example, 'The payee must endorse the check before depositing it.'

Examples:

The payee received the funds via electronic transfer.
The payee cashed the check at the bank.
The payee's name must be clearly written on the payment slip.
The payee confirmed receipt of the payment.
The payee's account was credited with the amount.

Show examples from the web [+]

the name of any payee reference party,
'payee' means a natural or legal person who
Such data fields as 'payee' are irrelevant for the purpose of processing the debit.
Ask for a new payee's default category
If a transaction payee matches more than one Match Key, the behaviour is undefined. & kappname; will arbitrarily pick one of the matching payees.
This dialog does not allow new payees to be created. Please pick a payee from the list.
The administration fee shall be calculated separately in relation to each payee;
In order to secure a smooth transition to SEPA, a valid payee authorisation to collect recurring direct debits in a legacy scheme should remain valid after the migration deadline established in this Regulation.
A payer shall be entitled to an unconditional right to an immediate refund from the payment service provider where an authorised payment transaction initiated by or through a payee has already been executed.
With regard to fees, experience has shown that the sharing of fees between payer and payee is the most efficient system since it facilitates the straight through processing of payments.
Necessary to remove the obligation to provide information on a transaction for the withdrawal of cash from a payment account where the payer and payee is the same person.
With respect to a compensation offer for a payee:
With regard to fees, experience has shown that the sharing of fees between payer and payee is the most efficient system since it facilitates the straight-through processing of payments.
Information for the payer and payee after the initiation of a payment order
With regard to charges, experience has shown that the sharing of charges between a payer and a payee is the most efficient system since it facilitates the straight-through processing of payments.
Absence of payee's payment account with the payment service provider
If you check the Select transactions without payees box, only transactions with no payee will be selected.
When entering a new transaction with this option enabled, & kappname; will fill in all the transaction details based on the previously most often used transaction with the selected payee.
These are optional for transactions. They are required for Scheduled transactions. A transaction history, with category, is shown against each payee.
'payee' means a person that is the intended recipient of the transfer of funds;

Alternatives:

recipient
beneficiary
receiver of payment
party receiving funds
check recipient

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creditor vs payee

"creditor"

"payee"

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