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I'm trying to think of the appropriate word for someone that charges you or that you pay.

If you have a bank statement, what would you name the column that contains the name of people you paid money to or charged you?

Does anyone have any idea what that is?


An example statement:

Your suggested word | Value
-------------------------------
Dave                | +£10
WalMart             | -£14.99
WalMart             | +£14.99   (an example of a refund)
PC World            | +£99.99
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1  
A statement doesn't show to whom you paid money, just where the funds from this account went: payee is exactly right for that. –  TimLymington Dec 12 '12 at 12:57
    
It does show who you paid, e.g. it shows I paid £50 to Walmart (-50) and that a Dave paid me £10 (+10) –  Pez Cuckow Dec 12 '12 at 13:00

4 Answers 4

up vote 1 down vote accepted

I found a similar thread over on this forum. The general consensus appears to be "Transactor", meaning someone who participates in a [financial] transaction. "Party" and "Principal" were also mentioned.

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Are you certain that the general consensus on that forum was that "Transactor" was the best choice? Also, it said that "major players, like the owners or stockholders or those who have direct monetary stakes are principals. If they are merely representatives, like attorneys or brokers, use parties e.g. attorneys identify their respective clients as principals to the transaction they are negotiating." This is different than a banking statement; it is more like corporate finance, no? –  Feral Oink Dec 17 '12 at 18:16

I just went to look at my own bank account statement, and that column is in fact labeled Payee, for both my debits and credits.

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Though payee is common, consider recipient since it makes it clear where the money went.

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Someone you paid money to is a "payee". Someone who paid you money is a "payor". As this column in your example can be either, you might put "Payor/Payee". I just checked my bank statements and they label this column "Description". I checked my last credit card bill and it has no label over the column. I suppose you could put something like "Other party but that seems a little awkward.

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You seem to have left off the closing quote mark on the phrase “Other party but that seems a little awkward” –  jwpat7 Dec 12 '12 at 17:17
    
I meant: "Other party", but that seems a little awkward. –  Jay Dec 12 '12 at 20:24

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