bank charge

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The amount charged to a customer by a bank, usually for a specific transaction, such as paying in a sum of money by means of a cheque or withdrawing a sum by means of an automated teller machine. However, modern practice is to provide periods of commission-free banking by waiving most charges on personal current accounts. Business customers invariably pay tariffs in one form or another.

Subjects: Financial Institutions and Services — Accounting.

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