A component of some finance charges, such as the fee for triggering an overdraft checking account into use. Bloomberg Financial Dictionary
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service charge UK US noun [C]
► COMMERCE an amount of money added to the basic price of something to pay for the cost of dealing with the customer: »
A $10.00 service charge will be deducted from the sale proceeds.
»A service charge of 17% is usually added to your bill.
► [usually plural] BANKING an amount of money that a customer pays to a bank for its services: »
Service charges on consumer and commercial accounts accounted for 35% of the bank's revenue.
► UK PROPERTY an amount of money paid to the owner of an apartment or office building for services such as cleaning and repairs: »
Thousands of leaseholders have been waiting for the chance to contest high service charges.
»If you live in a flat and pay a service charge, your buildings insurance should be included in this cost.
Financial and business terms. 2012.