Annual Administrative Fee

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

• yearly fee
• renewal charge
• processing cost
• 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

• 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.
• Yearly Renewable Group Term Insurance — Definition,
  • A group insurance policy that is annually reviewed to keep premiums manageable.