What is a fee?

A fee is a fixed price charged for a specific service. Fees are applied in a variety of ways such as costs, charges, commissions, and penalties. Fees are most commonly found in heavily transactional services and are paid in lieu of a wage or salary.

What are the different ways that fees are applied?

Fees are applied in a variety of ways such as costs, charges, commissions, and penalties. Fees are most commonly found in heavily transactional services and are paid in lieu of a wage or salary. Most often, fees are the payment one makes for service, both basic—mowing a lawn, for example, and complex—like drafting a will or preparing your taxes.

What are some of the things a business may pay a fee for?

A business may pay a fee to an accountant to help manage its books, and to a security company to make sure that the building is protected after work hours. Governments may charge fees for obtaining a business license or an individual passport.

Does Cash App charge a fee?

However, if you opt to use a credit card to send money or need an instant transfer, Cash App charges minimal fees. There are a few cases in which you might incur Cash App charges, but with the included convenience of sending, receiving, and transferring money, you probably won't even mind paying up.