noun phrase · neutral
late payment fee
/leɪt ˈpeɪ.mənt fiː/LATE PAY·ment FEE
a charge applied by a company or bank when a bill or loan payment is not paid on time
Examples
“If you miss the deadline you'll incur a late payment fee.”
“Many companies warn customers about late payment fees on invoices.”
“To avoid late payment fees I always set reminders a week before the due date.”
Band 8 sentence
“Households under financial strain often fall behind on bills and face escalating late payment fees that worsen their situation.”
Collocations
- incur a late payment fee
- charge a late payment fee
- avoid late payment fees
Word family
Common mistakes
late fee payment→late payment fee
a fee for being late to pay→late payment fee
incur late payment→incur a late payment fee
Say it for a higher band
5pay late→6be charged→7+late payment fee
Synonyms
penalty charge
Easily confused
penalty charge
“The parking penalty charge was much higher than the late payment fee for my utilities.”
Related words
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In Shopping & Money
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