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Verizon Bumps Early Termination Fee by $70


News by admin on Saturday November 15, 2014.

verizon carriers · verizon news · cell phone news · admin

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If you tie yourself down to Verizon you will need to make sure you want to see out the term of your contract, because if you don't the cost it quite steep. The largest carrier in the United States has updated its terms and conditions with new prices for early termination.

If the consumer decides to terminate the contract within the first seven months of the agreement they will have to pay $350. After that initial window Verizon will reduce the fee by $10 per month during months 8 to 18, while it will fall by $20 through months 19 to 23 and by $60 in the final month. Previously Big Red slashed the ETF by $10 per month for each complete contract month, which means this new system works out $70 more expensive for the consumer.

Verizon Wireless has updated its customer agreement with new conditions related to early termination fees. Effective today, new customers that purchase a device on contract will be required to pay a full $350 early termination fee during the first seven months of the contract if it is broken. The fee is reduced by $10 per month between months 8-18, $20 per month between months 19-23 and $60 in the final month of the contract term?

"If you cancel a line of Service, or if we cancel it for good cause, during its contract term, you?ll have to pay an early termination fee. If your contract term results from your purchase of an advanced device on or after November 14, 2014, your early termination fee will be $350, which will decline by: $10 per month in months 8-18, $20 per month in months 19-23, and $60 in the final month of your contract term."

The revised fees apply only to the purchase of high end devices.

 
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