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Verizon to increase early termination fee by $175
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Verizon branded voice-only handset by LG
Beginning Sunday, November 15th, Verizon Wireless will be increasing the early termination fee (ETF) on all new smart phone plans to $350. Standard voice-only plans will remain at $175.
This announcement came just days before the highly publicized "Droid" launch, Verizon's newest touch screen phone running Google's Android operating system. Is Verizon losing confidence in what is being called the "best Google powered phone yet?" It is unclear what the reasoning is behind this increase, but Verizon spokesperson Jeffrey Nelson claims it is merely a logical evolution of terms. "Our ETF for all other devices remains at $175, which was set long before people were walking around with expensive, sophisticated, mini-computers in their pockets," said Nelson.
In the past, it has generally only been a last resort to terminate a contract early. However, with new smart phone plans hovering at the median rate of $100 per month, the decision has become more complicated. In any case, if you wish to avoid the unlikely event of paying $350 to end your contract early, be sure to start or renew your Verizon contract before the 15th.
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