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Verizon Quietly Tweaks ETF Terms To Keep Customers From Straying

by Brandon Russell | November 14, 2014November 14, 2014 1:00 pm PDT

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Right as we close in on the busy holiday period, Verizon has made a change to its terms of service that affects the carrier’s Early Termination Fees (ETF). Going forward, instead of declining right when your two-year contract is signed, Verizon has made it so the price doesn’t go down until the eighth month of service. The $350 fee remains the same, but you’ll be on the hook for the full amount if you do decide to sneak out within the first few months.

Verizon’s previous policy took $10 off the ETF fee for each full month that was completed as part of your two-year contract. Now that reduction won’t kick in for eight months, which means customers will have a pretty hefty fee hanging over their head for quite a long time. After that, $20 per month will be taken off between months 19-23, and $60 in the final month of your contract term, giving consumers incentive to carry out the full two years.

According to Verizon’s new terms, the policy will be enforced on contracts signed on or after Nov. 14. If you signed a contract before then, the old $10 per month reduction will still apply; if you pre-ordered a device that has yet to ship, the old terms will apply. “For other contract terms entered into prior to November 14 2014, your early termination fee will be $175 minus $5 for each full month of your contract term that you complete,” Verizon’s new terms explain.

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. For other contract terms entered into on or after November 14, 2014, your early termination fee will be $175, which will decline by: $5 per month in months 8–18, $10 per month in months 19–23, and $30 in the final month of your contract term. If your contract results from your purchase of an advanced device prior to November 14, 2014, your early termination fee will be $350 minus $10 for each full month of your contract term that you complete. For other contract terms entered into prior to November 14, 2014, your early termination fee will be $175 minus $5 for each full month of your contract term that you complete.

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Brandon Russell

Brandon Russell enjoys writing about technology and entertainment. When he's not watching Back to the Future, you can find him on a hike or watching...

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