Everyone hates early termination fees, but starting today, Verizon Wireless customers may hate theirs just a little bit more.
Verizon has made a change to its customer agreement that makes it so that your ETF won’t start to decline until the eighth month of your contract. For advanced devices, your ETF will start at $350 and will go down by $10 each month in months 8-18, $20 each month in months 19-23 and $60 in the final month of your commitment.
When it comes to products that aren’t considered an “advanced device,” your ETF starts at $175 and then decreases by $5 each month in months 8-18, $10 per month in months 19-23 and $30 in the final month of your contract.
Previously, Verizon’s ETF would decline by $10 each month for advanced devices and $5 per month for other products. Now if you cancel your contract anytime in the first eight months, you’ll be hit with the full ETF. It’s worth noting that this only applies to customers that buy a device on or after November 14. It’s a pretty big change that’s worth taking note of, though, if you were thinking about getting a new Verizon smartphone soon.