Nominee: The meaning of NOMINATE is designate

The meaning of NOMINATE is designate, name. How to use nominate in a sentence. Nominee definition: a person nominated, as to run for elective office or fill a particular post.. See examples of NOMINEE used in a sentence. A nominee is someone who is nominated for a job, position, or award, or a person or organization named to act on behalf of someone else. Learn more about the word origin, pronunciation, and usage of nominee with Collins English Dictionary. A nominee refers to an individual or entity designated by the account holder to inherit the account proceeds in case of an unexpected death. Understanding the nominee meaning plays a vital role in asset management, facilitating a hassle-free transfer of funds. Having a nominee in place provides peace of mind, knowing that your assets will be safe and passed on to the right person. Currently in India, one nominee may be appointed per bank account. Interestingly, demat accounts provide the ...