What is Difference Between Drawer and Drawee in a Cheque

Drawer: Drawer is the person who writes on the cheque. The person  is having an a/c in a bank from which he the money is to be transferred.Drawer is the person who pays the money.
Drawee: Drawee is the bank which draws the drawer’s cheque.
Payee: Payee is the party  who receives the payment.The name of party  is specified on the cheque.

In the  cheque  shown below Jagdish Y is payee, ICICI Bank Ltd is Drawee and theTime 2 Rich (Who has signed on the cheque) is Drawer.


If you have any doubt please comment below.

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