Glossary of terms commonly used in the Wallet

late fee

how to read
How to read in Japanese: late fee

A late fee represents a charge incurred when payment is not completed by a set due date.

If you fail to repay a credit card loan or cash advance, you are obligated to pay a late fee based on the interest rate set by the lender or bank.

The interest rate for late fee is capped by the Interest Rate Restriction Law based on the amount of the loan. Late fees are generally charged by incorporating them into the next month’s payment.

In addition to credit card loans and cash advances, late fees may also be incurred for virtual currency transactions.

When the virtual currency outflow became an issue in 2018, there was a history of litigation over refunds that led to a court case seeking late fees. In the trial, the victims demanded late fees and other compensation for the damage caused by the suspension of transactions.

Search for terms by genre

Glossary Top
Current page