Verizon Wireless doubles early termination fee

Verizon Wireless doubles early termination fee

Starting Nov. 15, Verizon plans to double its early termination fee (ETF) -- to $350 -- for customers who end their cellphone contracts early. The fee, arriving just in time for the holidays, applies to customers who have a smart phone or other advanced device on a one or two year contract.

The penalty will decrease by $10 for each month of service completed. If a customer completes five months of service, the penalty would be reduced to $300, for example.

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