Service charge

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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.
References in periodicals archive ?
The peasant group added that they will demand the permanent abolition of irrigation service fees (ISF) and the condonation of unpaid bank accounts of farmers and irrigators associations 'that have incurred millions in debt to NIA.
Service fee defaulters in Emirates Living will not be given vehicle permits to enter communities, according to developer Emaar.
confirming the OA's right to collect service fees in the OA Circular.
He added that the CPA is currently conducting a study that will be completed in September or October, examining the reasons behind banks charging extra service fees for renewing ATM cards and other services, calling them profit charges.
Bin Gulaita added that the Land Department recommends the establishment of property owners' associations to properly manage the service fees and to fast-track solutions to disputes between property owners, developers and tenants.
An insurance broker may even charge a service fee that is a percentage of the premium so long as a Section 2119 Agreement sets forth the percentage, the amount of the premium, and explains whether changes in coverage, cancellation of the policy or audits will result in changes in the fee.
Bank Windhoek's SeniorSave product for clients above 55 years still offers free ATM withdrawals at Bank Windhoek ATMs, free Point-of-Sale transactions and a minimum service fee of only N$2 (including VAT).
The service fees received by the Swiss company must be scrutinized as well, to avoid unjustified profit transfers from abroad to Switzerland.
THE NATIONAL Irrigation Administration (NIA) is exploring the possibility of abolishing the irrigation service fee that farmers pay.
Nakheel said: "Only by collecting service fees can we ensure ongoing maintenance and improvements in our communities.
Marwan Bin Galitah, CEO of Rera, said: "The service index will define fair service fees and will analyse not only cost but also quality, providing a sliding scale for basic to premium service.
Reflecting, in part, investments in check automation and electronic check technologies, check service fees will increase, on average, approximately 3 percent compared with current prices.

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