What is "nickel-and-dimed"

nickel-and-dime \nick"el-and-dime"\, v. t. [imp. & p. p. nickel-and-dimed or nickeled-and-dimed; p. pr. & vb. n. nickel-and-diming or nickeling-and-diming.]

1. To harass or annoy with petty demands or for trivial reasons; specifically, to insist on minor concessions in a negotiation.

2. To weaken or impair gradually or by small steps; as, to be nickel-and-dimed into bankruptcy by the operating overhead. [informal]