• Verizon Wireless Changes Early Termination Fee Conditions for New Customers



    If you plan on switching your mobile carrier to Verizon Wireless, we’d recommend making sure you’re going to stay with them before switching over. It has been reported by Droid Life that Verizon Wireless has new termination fee conditions on their updated customer agreement. New customers will now be charged a $350 early termination fee when purchasing a phone on contact, when broken within the first seven months. For every month you stay with the wireless company after the initial seven months, that fee will be decreased.

    From months 8-18 the fee gets reduced by $10 a month, months 19-23 the fee gets reduced by $20 a month, and the last month of the contract the fee gets reduced by $60. Before the recent update, $10 would be deducted for every month the customer stayed with Verizon Wireless, starting from the first month of signing. But with the new condition, customers will now have to pay the full $350 up until the 7th month, which means the early termination fee is $70 more expensive. According to Droid Life:

    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.
    Those who switched over to Verizon before November 14th don’t have to worry about the new update as it won’t affect you. This also applies to those who purchase an ‘advanced device’ only, which includes Apple’s iPhones. So if you do not want to pay a full $350 ETF, we’d suggest making sure you’re sticking with the mobile company for a long time instead of just ‘testing the waters.’

    Source: Droid Life
    This article was originally published in forum thread: Verizon Wireless Changes Early Termination Fee Conditions for New Customers started by Akshay Masand View original post
    Comments 10 Comments
    1. Aenima133's Avatar
      Aenima133 -
      Hasn't it always been like this?
    1. Evaded's Avatar
      Evaded -
      Quote Originally Posted by Aenima133 View Post
      Hasn't it always been like this?
      No, as it stated, it use to drop $10/mo starting immediately. Now it doesn't start dropping until the 8th month.
    1. bmwraw8482's Avatar
      bmwraw8482 -
      So a contract-free 64gb iphone 6 is $749, or $299 with a 2 yr contract. So if breaking the contract only costs $350 then couldn't you end up getting the same phone for $649 by buying with a contract then breaking the contract?
    1. Dranon's Avatar
      Dranon -
      MMM get an iphone use it for a month then terminate and pay $350 and get to keep the phone? Sounds like a good deal for the phone if you want to change carriers? Go to the new carrier activate the phone with them. Now you have a new iphone for $350 instead of over $700!!!

      MMM get an iphone use it for a month then terminate and pay $350 and get to keep the phone? Sounds like a good deal for the phone if you want to change carriers? Go to the new carrier activate the phone with them. Now you have a new iphone for $350 instead of over $700!!!
    1. Evaded's Avatar
      Evaded -
      Quote Originally Posted by Dranon View Post
      MMM get an iphone use it for a month then terminate and pay $350 and get to keep the phone? Sounds like a good deal for the phone if you want to change carriers? Go to the new carrier activate the phone with them. Now you have a new iphone for $350 instead of over $700!!!
      You'd have it for $650, not $350. Not sure how Verizon's activation fee works. But you may be paying a $40 acto fee on top of that. Sounds like a hassle to save $60 in my opinion lol
    1. King_O_Hill's Avatar
      King_O_Hill -
      Plus you have to pay for at least half the first months bill, as there is a 14 day return window, so you have to go past that. I would say that you'll be lucky to save $20 for all that hassle.

      Pfft, your just better off buying it from the Apple Store!
    1. n0m0n's Avatar
      n0m0n -
      Quote Originally Posted by Dranon View Post
      MMM get an iphone use it for a month then terminate and pay $350 and get to keep the phone? Sounds like a good deal for the phone if you want to change carriers? Go to the new carrier activate the phone with them. Now you have a new iphone for $350 instead of over $700!!!

      MMM get an iphone use it for a month then terminate and pay $350 and get to keep the phone? Sounds like a good deal for the phone if you want to change carriers? Go to the new carrier activate the phone with them. Now you have a new iphone for $350 instead of over $700!!!
      I think you have it wrong your purchasing the device for $299. early term + $350. = $749. which is what it would have cost outright.
    1. King_O_Hill's Avatar
      King_O_Hill -
      Quote Originally Posted by n0m0n View Post
      I think you have it wrong your purchasing the device for $299. early term + $350. = $749. which is what it would have cost outright.
      Apparently using droids have affected your ability to add correctly!
    1. n0m0n's Avatar
      n0m0n -
      Quote Originally Posted by King_O_Hill View Post
      Apparently using droids have affected your ability to add correctly!
      Yeah ok 649.
    1. GenesisDH's Avatar
      GenesisDH -
      I wonder if this is why my line of service was showing that I could upgrade on the 13th (instead of 16th per my contract end date)... not that I was planning to use an upgrade as I paid for my 6 in full.
      Like having that month-to-month $25/month discount. 😊
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