payment-reminder

Vocabulary Word

Definition

'Payment-reminder' is a professional way of saying it's time to make a payment. It's a polite notice saying that a payment is due for a product or service you've used.

Examples in Different Contexts

In personal finance management, a 'payment reminder' helps individuals avoid late fees. A financial advisor might suggest, 'Set up payment reminders for your bills to maintain a good credit score.'

Practice Scenarios

Business

Scenario:

We have a few accounts that are overdue. Can you help ensure these accounts are settled?

Response:

I can set up a system to send out payment reminders to clients who are overdue. This should help us expedite the payment process.

Impact

Scenario:

Our recurring donations seem to be dropping slightly this month. Any idea on how we can handle this?

Response:

Let's send a sincere payment reminder letter to the donors. It can express gratitude and a gentle reminder of their commitment.