In plain English
This means the receiving side of a payment or transfer. It is the account money is meant to go into, rather than the one it comes from.
In context
Here, destination account labels the account that the funds are being sent to.
- Situation
- Sending transfers, receiving payouts, withdrawing funds, and reading wallet balances
- What it communicates
- Labels the account funds will be sent to.
Meaning limits
The term alone identifies only the receiving account, not who controls it or whether the transfer has been completed.
Examples
“In the transfer, her savings account was the destination account, and the money came from her main account.”
“Staff entered the supplier's account as the destination account on the payment form.”