Transfer tardy on ridiculously cheap excursion (3,4)
I believe the answer is:
day trip
'excursion' is the definition.
(I've seen this before)
'transfer tardy on ridiculously cheap' is the wordplay.
'transfer' is an anagram indicator (I've seen this in other clues).
'on' means one lot of letters go next to another.
'ridiculously cheap' becomes 'ip' (resembles 1p, one penny).
'tardy' is an anagram of 'daytr'.
'daytr'+'ip'='DAY TRIP'
(Other definitions for day trip that I've seen before include "Outing" , "Excursion within 24 hours" , "Brief excursion" , "Pay dirt (anag.)" .)