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Service Charge
(redirected from Convenience fee)

   Also found in: Dictionary/thesaurus, Wikipedia 0.01 sec.
Service charge
A component of some finance charges, such as the fee for triggering an overdraft checking account into use.

Service Charge
A fee a company or bank assesses for providing an unusual service. For example, a bank may assess a service charge if a person who does not have an account withdraws money from that bank's ATM. It is also called a service fee.


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Banks make most of their money through convenience fees charged to customers When you are in the market for a new checking account or want to move to a new bank, there are a number of things you should take into consideration before selecting the bank to open your checking account with Banks make most of their money through convenience fees charged to customers.
A convenience fee of $5 will be added to each installment ($20 total).
Institutions can save on bank charges and processing fees by passing on the cost of the system to the users via a convenience fee.
 
 
 
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