Check recipient (5)
'check recipient' is the definition.
(I've seen this in another clue)
This is all the clue.
(Other definitions for payee that I've seen before include "Receiver of a cheque" , "To whom cheque is written" , "He gets the dough" , "Receiver of money" , "One given money" .)
(Other definitions for bearer that I've seen before include "He helps to carry something - sometimes a coffin" , "One who puts up with" , "One who helps to carry something - maybe news" , "Mourner carrying the coffin at a funeral" , "He carries something, stretcher or news" .)