New Declining Early Termination Fee Is Another Consumer-Friendly First From Verizon Wireless
Starting today (November 16, 2006), the company introduces its declining early termination fee (ETF) for new contract customers. Now, when a customer signs up for or renews Verizon Wireless service, he or she will not be required to pay a fixed early termination fee if he or she chooses to terminate service before the end of the minimum term. Verizon Wireless’ contract termination fee will start at $175, as it does now, and be reduced $5 per month for each full month toward the contract’s term that the customer completes.
Verizon Wireless is the first wireless company to introduce a declining early termination fee nationwide -- other carriers require a fixed payment of $175 or more for the life of their contracts. The declining fee applies to contracts signed or renewed beginning today, November 16.