Tuesday, November 18, 2014

Verizon Wireless changes ETF policy


Recently Verizon Wireless quietly made some changes to their ETF (Early termination fee) policy that will make it harder to get out of your wireless contract. For the last few years Verizon’s ETF was $350 and went down $10 each month you completed within your two year contract. Verizon is no longer pro-rating the first 8 months of your 2/yr contract, so if you want to switch to a new carrier 6 months in you’ll need to pay the full $350 instead of getting a $60 reduction for the 6 months you’ve completed of your 2 year contract. Only users that have signed a 2/yr agreement with Verizon after November 14th, 2014 will be impacted by the new ETF change. Existing customers under a 2/yr agreement that signed before 11/14 will still have a pro-rated ETF in the event they decide to switch wireless providers.