When it comes to cancelling a line on Verizon, many people have a lot of questions. One of the most common questions that people ask is, "Does it cost money to cancel a line on Verizon?" The answer to this question isn't as straightforward as you might think.
Depending on the circumstances surrounding your cancellation, there could be fees or charges that you need to be aware of. In this blog post, we'll explore the various situations where you may incur charges when cancelling a line on Verizon and provide some tips to help you avoid any unexpected fees. So, if you're thinking about cancelling your Verizon line, keep reading!
1. Verizon's Early Termination Fee Policy
1. Verizon's Early Termination Fee Policy
Verizon's early termination fee policy applies to customers who cancel their service before their contract has ended. If you cancel while under contract, you may be charged an early termination fee, which is prorated based on the length of your contract. The maximum fee is $350, and this fee is calculated based on the length of your contract.
2. Charges for Canceling a Line on Verizon
Canceling a Verizon line may result in an early termination fee that ranges from $175 to $350. The fee is prorated based on the length of your contract and is reduced by $15 each month you stay in contract. After the first 14 days of service, canceling a line on Verizon will result in an early termination fee of $350.
3. Early Termination Fees for Contracted Devices
If you cancel a contract for a device on Verizon, such as a smartphone or tablet, you may be subject to an early termination fee. The fee is prorated based on the length of your contract and can range from $175 to $350.
4. How to Cancel Your Verizon Plan
To cancel your Verizon plan, you can call Verizon customer service or visit a Verizon store. If you are canceling a line under contract, be prepared to pay an early termination fee.
5. Contacting Verizon Customer Service for Cancellation
If you want to cancel your Verizon plan, you can call Verizon customer service at 1-800-922-0204. Be sure to have your account information handy, including your phone number and account PIN.
6. ETF Amounts Based on Contract Length
The early termination fee on Verizon is based on the length of your contract. The fee is prorated and can range from $175 to $350. The longer you stay in contract, the lower the early termination fee will be.
7. Gradual Reduction of ETF over Time
Verizon offers a gradual reduction of the early termination fee over time. The fee decreases by $15 each month you stay in contract. After one year, the early termination fee is reduced by $60.
8. Additional Fees for Canceling Verizon Services
Canceling Verizon services may result in additional fees, such as equipment and activation fees. Be sure to review your account agreement and contract for details on any additional fees you may be subject to.
9. Maximum ETF Amount on Verizon
The maximum early termination fee on Verizon is $350. This fee is prorated based on the length of your contract and is reduced over time. After one year, the fee is reduced by $60.
10. Reduction in ETF After One Year of Contract
After one year of your Verizon contract, the early termination fee is reduced by $60. This reduction continues each month until the end of your contract, making it more affordable to cancel your service if needed. However, if you cancel before the end of your contract, you may still be subject to an early termination fee.
2. Charges for Canceling a Line on Verizon
2. Charges for Canceling a Line on Verizon
Verizon charges an Early Termination Fee (ETF) for canceling your mobile plan before the contracted end date. The ETF varies based on factors such as contract length, device status, and time left in the contract. Here are some frequently asked questions related to charges for canceling a line on Verizon:
Q: How much is the ETF for canceling a line on Verizon?
A: The ETF amount depends on the contract length, the device status, and the remaining time in the contract. For example, for contracts signed before November 14, 2014, the ETF is $175 minus $5 for each full month of your contract term. For newer contracts, the maximum ETF is $350, which gradually reduces over time.
Q: Do I need to pay an ETF if I've paid off my device?
A: No. If you have paid off your device in full, there will be no ETF for canceling the line.
Q: How is the ETF calculated if I cancel my plan mid-contract?
A: If you cancel your two-year contract before it ends, the potential maximum ETF is $350, prorated for your contract term. For example, if you cancel a year after signing the contract, the fee would be $175.
Q: Are there any additional fees for canceling Verizon services?
A: Yes, canceling some Verizon services may result in additional fees. For example, canceling a Verizon mobile contract may incur an ETF, while canceling a home internet plan may result in early termination charges.
Q: How can I cancel my Verizon plan?
A: The Account Owner or an Account Manager can cancel single lines or your entire mobile account by contacting Verizon Customer Service. You can also cancel most Verizon services at any time.
Q: Will my ETF decrease over time?
A: Yes. Verizon gradually reduces the ETF over time for new contracts. For example, if you cancel after the seventh month of a two-year contract, the ETF will decrease by $5 each month until you complete the 17th month. After that, it will decrease by $10 each month until the end of the contract term.
In summary, canceling a line on Verizon may incur an Early Termination Fee, which varies based on contract terms and device status. The ETF gradually reduces over time, and canceling some Verizon services may result in additional charges. Contacting Verizon Customer Service is the best way to initiate a cancellation.
3. Early Termination Fees for Contracted Devices
3. Early Termination Fees for Contracted Devices
Q: What are early termination fees for contracted devices on Verizon?
A: Early Termination Fees (ETF) are charges incurred when a customer cancels their Verizon service before the end of their contracted period. The ETF applies to those who have a two-year contract for smartphones with data service.
Q: How much is the early termination fee for a Verizon contract?
A: The maximum early termination fee on Verizon is $350. This fee is prorated based on the length of your contract. For example, if you cancel a year after you sign your contract, the fee will be less than $350.
Q: Do I have to pay an early termination fee if I cancel my Verizon service after the contract ends?
A: No, there is no longer an early termination fee after the two-year contract period ends. You can cancel your Verizon plan at any time without incurring any charges.
Q: Can I negotiate the early termination fee with Verizon?
A: It may be possible to negotiate the early termination fee with Verizon, but there is no guarantee. It is recommended to contact customer service and explain your situation to see if any options are available.
Q: Will the early termination fee decrease over time?
A: Yes, the early termination fee decreases over time. After one year of the contracted period, the fee decreases by $10 per month until it reaches $0 at the end of the two-year contract.
Q: Is there a maximum amount that the early termination fee can be on Verizon?
A: Yes, the maximum amount for the early termination fee on Verizon is $350.
4. How to Cancel Your Verizon Plan
4. How to Cancel Your Verizon Plan
If you're looking to cancel your Verizon plan, you can do so by calling Verizon Customer Service at 1-800-922-0204. Here are some frequently asked questions to keep in mind before canceling:
Q: Do I have to pay anything to cancel my Verizon plan?
A: If your device is paid off, there is no charge for canceling. However, if it's not paid off, there may be an Early Termination Fee (ETF) prorated for your contract term (up to $350).
Q: Can I cancel my Verizon plan at any time?
A: Yes, you can cancel most Verizon services at any time. However, canceling a Verizon mobile contract may result in an ETF.
Q: How long does it take to cancel my Verizon plan?
A: Once you contact Verizon Customer Service, they will process your cancellation request immediately. However, if you have an outstanding balance, it must be paid before the line or account can be canceled.
Q: What information do I need to cancel my Verizon plan?
A: To cancel your Verizon plan, you will need your account information, which includes your 10-digit phone number and the last four digits of your Social Security number.
Q: Can I still keep my phone number if I cancel my Verizon plan?
A: Yes, you can transfer your phone number to a different carrier or plan. This process is called porting and can be initiated by the new carrier or plan you choose to sign up with.
Remember, canceling your Verizon plan may result in an ETF or additional fees. It's always best to review your contract terms or contact Verizon Customer Service for more information before canceling.
5. Contacting Verizon Customer Service for Cancellation
5. Contacting Verizon Customer Service for Cancellation
If you're considering canceling your Verizon plan, you'll need to reach out to their customer service department. Here are some frequently asked questions about contacting Verizon customer service for cancellation:
Q: Can I cancel my Verizon plan online?
A: No, you cannot cancel your Verizon plan online. You'll need to call their customer service department to cancel.
Q: What phone number should I call to cancel my Verizon plan?
A: The phone number to call for cancellation is (844) 837-2262, Monday to Friday 8:00 am to 5:00 pm Eastern Time.
Q: Who can cancel a Verizon line or account?
A: Only the account owner or an account manager can cancel a line or account.
Q: Will I be charged a fee for canceling my Verizon plan?
A: Yes, there may be early termination fees associated with canceling your Verizon plan, depending on your contract length and device type. Refer to section 1 and 3 of this blog for more information.
Q: Can I cancel my Verizon plan without a fee?
A: You may be able to cancel without a fee if there is a material adverse effect on you due to changes made by Verizon. Refer to section 6 of this blog for more information.
Q: What information do I need when I contact Verizon customer service to cancel?
A: Make sure to have your account details, such as your account number and the phone number associated with your plan, ready when you call.
Q: What happens to my phone and device payment plan after I cancel my Verizon plan?
A: Your device payment plan will not be automatically cancelled when you cancel your Verizon plan. You'll need to pay off any remaining balance on your device. Refer to section 3 of this blog for more information on early termination fees for contracted devices.
Canceling your Verizon plan may come with some fees, but it can be done by contacting their customer service department. Make sure to have your account information handy and consider any early termination fees associated with your contract and device type.
6. ETF Amounts Based on Contract Length
6. ETF Amounts Based on Contract Length
If you are on a contracted plan with Verizon and you decide to cancel your service before the contract term is up, you may be subject to an Early Termination Fee (ETF). The ETF amount depends on the length of time remaining on your contract.
For a 2-year contract, the ETF is 35% of the base monthly charges for the unexpired term. Let's say you purchased a phone with a 2-year contract, but canceled service after 15 full months. In this case, the ETF would be $90.
It's important to note that the ETF gradually decreases over time. From months 7-17, the ETF decreases by $5 per month. From month 18 onward, the ETF decreases by $10 per month. This means if you cancel your contract in month 7, the ETF would be $150. If you cancel in month 18, the ETF would be $50.
It's always a good idea to read your contract carefully before signing up for a plan with Verizon. This will give you a better understanding of the ETF policy and allow you to make an informed decision. If you have any questions about cancelling your plan and the ETF, you can contact Verizon customer service for assistance.
7. Gradual Reduction of ETF over Time
7. Gradual Reduction of ETF over Time
Verizon's Early Termination Fee (ETF) can be a significant cost if you decide to cancel your contract before it is over. However, there is good news. The ETF does not remain the same for the entire length of your contract. It gradually reduces over time.
So, what does this mean for you? Let's say you signed up for a two-year contract with Verizon. If you cancel within the first six months, the ETF will be the maximum amount of $350. However, if you wait until the 18th month of your contract, the ETF will have reduced to $70. That's a considerable reduction in cost.
It's important to note that the reduction in ETF will only happen if you stay with Verizon for the entirety of your contract. If you cancel early, you will be responsible for paying the ETF amount based on the time remaining on your contract.
Overall, the gradual reduction of ETF over time is a great feature for Verizon customers. It allows you to cancel your contract without incurring a hefty cost. However, it's essential to keep in mind the timeline for the reduction and make informed decisions about when to cancel your service.
If you are considering canceling your service with Verizon and want to know more about their ETF policy, be sure to check out the previous sections of this blog for more information. And remember, contacting Verizon's customer service can help answer any questions you may have about canceling your service.
8. Additional Fees for Canceling Verizon Services
8. Additional Fees for Canceling Verizon Services
Along with the early termination fee, Verizon may charge additional fees for canceling their services. These fees may include:
- Remaining device payment charges: If you have a device payment agreement, you may be required to pay the remaining balance on the device.
- Unreturned equipment fees: If you don't return equipment, like a modem or router, you may be charged an equipment fee.
- Activation fees: If you recently activated a device or service, you may be charged an activation fee.
It's important to read the fine print in your contract to understand any potential additional fees. Verizon may also charge a prorated fee for any partial months of service.
Remember, if you're thinking of canceling your Verizon service, it's always best to contact customer service and discuss your options. They may be able to find a plan that better suits your needs or help you navigate the cancellation process to avoid any unnecessary fees.
9. Maximum ETF Amount on Verizon
9. Maximum ETF Amount on Verizon
Verizon's maximum early termination fee (ETF) is $350, and it applies to contracts that result in two-year service agreements.
If you cancel your Verizon plan before the end of your contract term, the maximum ETF you may have to pay is $350. The amount is prorated based on how many months are left in your contract, with the fee declining over time.
For example, if you cancel your Verizon plan four months into a two-year contract, your maximum ETF would be $315 (i.e., $350 minus ($5 x 4)). If you cancel your plan 18 months into your two-year contract, your maximum ETF would be $60 (i.e., $350 minus ($5 x 15)).
It's essential to keep in mind that the maximum ETF may not be the only fee you have to pay for canceling your Verizon service. Additional fees for canceling services may apply, depending on your situation. For example, if you cancel your service before Verizon has recouped the cost of your device, you may have to pay an equipment fee.
If you have any questions or concerns about the maximum ETF or cancellations, it's best to contact Verizon's customer service. They can explain your options and any fees associated with canceling your plan.
10. Reduction in ETF After One Year of Contract.
10. Reduction in ETF After One Year of Contract.
Q. What is the reduction in ETF after one year of contract with Verizon?
A. If you cancel your contract after completing one year, Verizon will reduce your ETF by $10 per month for a basic device and $20 per month for an advanced device.
Q. Can I qualify for a reduction in ETF if I cancel before one year?
A. Unfortunately, only customers who complete 12 months of their contract can avail of the gradual decrease in ETF. If you cancel before this, you will be charged the full early termination fee.
Q. How will I know the exact amount of ETF reduction?
A. You can calculate your ETF reduction by subtracting the total months completed from the contract length and multiplying the remaining months by the reduction amount based on the device. You can also contact Verizon customer service for a clear breakdown of the calculation.
Q. What happens after I complete my contract length?
A. After you complete the contracted term, you will not be charged an ETF for canceling your Verizon service. You can either continue with your current plan, renew your contract or switch to a different provider.