"The team management met today following Paul Collingwood's admission he was led into an inappropriate place at an inappropriate time in Cape Town," said a statement released on Tuesday by England media liaison officer James Avery.
"As a result Paul Collingwood has been levied with a suitable fine. The matter is now closed."
Avery declined to reveal the size of the fine but BBC reports said it was 1,000 pounds ($1,994).
Earlier, the Sun newspaper reported Collingwood had made a "midnight visit" to the club.
The next day he was dismissed without scoring as England lost a Twenty20 World Cup match to South Africa by 19
"I was taken to an inappropriate bar, realised that and got out of there," Collingwood told reporters after New Zealand beat England by five runs in Durban on Tuesday.
"Obviously I'm disappointed from my side of things and hopefully it won't happen again. I made a mistake, that's what it comes down to."
Collingwood said he had one beer in the club.
"The friends I was with weren't massively close friends, to be honest, and they took me to the bar," he said.
"I realise it was inappropriate and I'm disappointed with myself."
Collingwood said he had apologised to England's management.