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  • Verizon Set to Double Early Termination Fee 
    Reported by: Newsroom Solutions

    Thursday, Nov 5, 2009 @08:30am CST

    Verizon customers might want to take advantage of smart phone deals being offered by the company now because early termination fees are about to double.

    Verizon has announced plans to bump the fee for bailing out of some contracts to 350-dollars as of November 15th.

     "USA Today" quotes Joel Kelsey of Consumers Union as saying the fee "is insane." He says "there's no justification" for a fee that high and calls it punitive.

    Verizon says it's all about the high costs of smart devices. Spokesman Jim Gerace says while customers only pay 99-dollars for a Blackberry, what Verizon pays is substantially more.

    The company says early termination fees for standard cellphones will stay at the current 175-dollars.

    Wireless phone customers do have another option. Most carriers will allow the purchase of a phone at full retail price with no contract attached.

    In the case of a Blackberry Storm 2, that fee could be a stopper at 539-dollars. Verizon currently sells that item for 179-dollars with a two-year contract.
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