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token payment


Definitions of token payment

a small payment made to acknowledge a debt or to show that you intend to pay a debt off

Keep your bank informed of your situation, and offer them a small token payment, maybe £1 or £2 a month.

a small charge (=a price for a service, a good, or piece of land etc) that does not cover the real cost of something

The 17th century house was handed over to a charitable trust for a token payment of £1.