Verizon Makes Breaking Contract More Expensive

Posted by at 8:58 pm on November 15, 2014

Verizon Wireless has changed its terms of service and made it more expensive for customers to leave the carrier before the end of their contract.

Under the old terms of service, all customers who purchased a smartphone agreed to an ETF of $350. The ETF was prorated and decreased by $10 each month beginning after the first month of the contract. Customers who chose to break their contract after six months, for example, would be required to pay an ETF of $290 ($350 – $60).

Effective now, Verizon is delaying the monthly ETF drop until after customers have been with Verizon a minimum of eight months. Under the new terms, customers who choose to leave after six months, for example, will still pay $350, not the $290 they would have under the old terms. Verizon says ETFs will now decline by $10 per month in months 8-18; $20 per month in months 19–23; and $60 in the last month of each customer contract.

Contracts signed before 11/14/2014 will be governed by the old ETF terms.

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