Annual Administrative Fee

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • renewal charge
  • processing cost
  • yearly fee
  • service fee
  • payment

Definition of Annual Administrative Fee

  1. The yearly fees charged for the administration of a service. This term is used in relation to a number of fields including insurance, group benefits plans, and other financial services.

Related Terms and Acronyms

  • Yearly Renewable Group Term Insurance Definition,
    • A group insurance policy that is annually reviewed to keep premiums manageable.
  • Annual Fee Bank,
    • A bank charge for use of a credit card levied each year, which can range from $15 to $300, billed directly to the customer's monthly statement. Many credit cards come without an annual fee.
  • Service Charge (SC) Bank,
    • Fees charged to customers for specific services or as a penalty for not meeting certain requirements such as insufficient funds in a chequing account.
    Bank account transaction code.
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