Friday, 29 January 2010

Verizon Early Termination Fee Doubles on Advanced Devices Verizon ETF to Charge $350 for Those Who Break Their Contracts

Up until now Verizon's cancellation fee was only $175 meaning that you
could've signed a new contract for an expensive smartphone, break your
contract and put it up for sale on eBay (for example) getting you a
little profit along the way. But Big Red has gotten smarter and doubled
their early termination fee, charging $350 to those who break their
contracts signed after November 15th — or at least that's whatย
leaked document says.
Our good folks from BoyGeniusReport have managed to get their hands on
an internal Verizon memo where they say that Beginning 11/15/09,
customers purchasing an Advanced Device with a 1 or 2 year service
agreement will be subject to an ETF of up to $350 if they disconnect
service prior to completing the minimum term. The $350 EFT will decrease
by $10 for each month of service completed .
There's nothing official regarding the doubled early termination fee or
what exactly an advanced device is, although we may have a clue that
everything more expensive than $300 will fall into that category.
So are you still going to buy a handset after Nov 15?
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