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English definition of “overpay”

overpay

verb [T often passive] uk   /ˌəʊ.vəˈpeɪ/ us    /ˌoʊ.vɚ-/ (overpaid, overpaid)
to pay someone too much: I felt I should tell my boss she'd overpaid me by £50.disapproving City bankers are grossly overpaid for what they do.Paying and spending money to pay more than originally agreed when paying back a loan, in order to reduce the cost of the loan: If you budget to overpay your mortgage on a regular basis, you can save a lot of money.Borrowing, lending and debt
overpayment
noun [C or U] /-mənt/
She did not notice that she had received a salary overpayment.Borrowing, lending and debt
(Definition of overpay from the Cambridge Advanced Learners Dictionary & Thesaurus © Cambridge University Press)
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