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What is the difference between payor and payee?
The payer is the person that is paying a sum of money to the payee. The payer signs the check and the payee is the person who cashes the check.
Can a demand draft be stopped by payor?
No
What is safer a cashiers check or a personal check?
A cashiers check is far safer than a personal check, whether you are the payee or the payor. If you are the payee (the one receiving the check) and receive a personal check that is insufficient, you have very little recourse in obtaining the money owed to you. If you are paid with a cashiers check, it is guaranteed funds, since the bank will only issue the check with available funds (meaning it has to be paid for with cash or purchased at the person's bank, where the bank can verify there are sufficient funds in their account to cover the amount of the check). If you are the payor (the one paying by check), the bank can trace the check for you if the person to whom you were paying loses it or says they never received it. Also, if the check does get lost, it will be far more difficult for someone to forge their signature to it and cash it. Also, a cashiers check does not have as much personal identification on it like a personal check does (address, checking account number, etc.).
What is the name of a person who owes others money?
The debtor. customer, client, payor.
How long does it take for a personal check to clear into your checking account?
There's no ready answer. This depends on a number of factors including the policies of your bank and the payor's bank; the amount of the check; and the location of the accounts. Many banks place holds on large or out-of-state checks, or may extend courtesies to longtime accountholders by permitting the funds to be accessed sooner. Suggest talking to your teller or branch manager to find out your bank's policies and when you might expect the check to clear.
Who is the payor on the check?
The person who wrote the check
If you failed to deposit a check issued over six months ago but still have the original check and can mail it back to the payor is the payor bound by law to draft a new check?
The payor is not bound by law to issue another check. The check was legal tender that you could have cashed at any time. Some banks will still cash a check that was issued over six months ago.
A person who writes the check?
The person who writes a check is called the payor. Or in the case of my brother, a sucker, when he writes another check for his girlfriend.
What is the difference between payor and payee?
The payer is the person that is paying a sum of money to the payee. The payer signs the check and the payee is the person who cashes the check.
What is difference between payor and payee?
payee is the person who is to be paid payor is who pays to the payee
Can you cash a check at a the bank where a check is wrote to you if there is no money in the account?
You can and it would probably bounce due to insufficient funds, unless the payor had bank coverage for IF, then the bank would pay it. The payor [you'r the payee, the one who should be receiving the money] would be penalized by the bank if they dint have the IF coverage, as I understand it, I've never been in that situation.
What is tertiary insurance?
Tertiary insurance is the 3rd insurance policy responsible for payment. Example... Medicare, primary payor Blue Cross Blue Shield, secondary payor Aetna, tertiary payor
Can a demand draft be stopped by payor?
No
Payor benefit rider?
The answer is already on this website, pleases see the link below. http://www answers com/topic/payor-clause
How long does it take for western union speedpay to clear your checking account?
how long does it take a western union speed pay by check take to clear bank account of payor
Who is the payor for US uniformed services insurance?
tricare
What is safer a cashiers check or a personal check?
A cashiers check is far safer than a personal check, whether you are the payee or the payor. If you are the payee (the one receiving the check) and receive a personal check that is insufficient, you have very little recourse in obtaining the money owed to you. If you are paid with a cashiers check, it is guaranteed funds, since the bank will only issue the check with available funds (meaning it has to be paid for with cash or purchased at the person's bank, where the bank can verify there are sufficient funds in their account to cover the amount of the check). If you are the payor (the one paying by check), the bank can trace the check for you if the person to whom you were paying loses it or says they never received it. Also, if the check does get lost, it will be far more difficult for someone to forge their signature to it and cash it. Also, a cashiers check does not have as much personal identification on it like a personal check does (address, checking account number, etc.).
