What does account payee only mean?

account payee only meaning in Law Dictionary

terms placed on a check making sure its paid towards the proper account. This safeguards against fraudulence.

account payee only meaning in Business Dictionary

terms put into the crossing on a check to make sure that check is paid just in to the account for the entity to whom the check is made completely. This step tends to make a check a non-negotiable instrument, and provides security against its deceptive transformation. The text 'not negotiable' have the same result.