A new Verizon Wireless document has recently surfaced that increases the companies $175 early termination fee to an astounding $350.
The new ETF will start on 11/15 and will apply to “advanced devices” although which devices will be included are still unknown, although I’d put my money on their high end smartphones which often cost the company hundreds of dollars above their sell prices.
More than likely the ETF increase has come to light as many users have been buying $600 or $700 phones for $200 then paying the ETF fee immediately to save a few hundred dollars on a phone outside of a contract, many of which end up on eBay.
Verizon will provide a $10 prorated fee per month, but that still means you’ll pay $110 if you have one month left on your 2-year contact. Given the number of ETF lawsuits that have occurred in the past I’d be willing to hold my breath over a future class-action over the new fees.
Verizon, here’s an idea, why not just charge the full retail value of the device (at the time it was purchased) if a customer leaves their contract early. So if I pay $200 for a $399.99 phone I’m stuck with $199.99, this new contract could unjustly charge fees significantly above your cost of devices. [BGR]
Posted on 04 November 2009 by | Author: Mark Kosur | Posted In: Mobile