Verizon to pro-rate ETF fees!!!!!
I have to say I am surprised by this! 😲
NEW YORK -- Verizon Wireless is once again upping the ante when it comes to customer service. Speaking at the Yankee Group Wireless Leadership Summit this afternoon, Denny Strigl, CEO of Verizon Wireless, announced that the company will become the first carrier to pro-rate early termination fees (ETF) for customers who choose to leave Verizon Wireless before their contract expires.
Strigl says the company will pro-rate the fees based upon how long the customer has been with Verizon and how close his or her contract is to expiring. The new policy will begin this fall.
Strigl says the change is necessary because customers are unhappy with the fees. "Early termination fees are tarnishing the ...
(continues)
NEW YORK -- Verizon Wireless is once again upping the ante when it comes to customer service. Speaking at the Yankee Group Wireless Leadership Summit this afternoon, Denny Strigl, CEO of Verizon Wireless, announced that the company will become the first carrier to pro-rate early termination fees (ETF) for customers who choose to leave Verizon Wireless before their contract expires.
Strigl says the company will pro-rate the fees based upon how long the customer has been with Verizon and how close his or her contract is to expiring. The new policy will begin this fall.
Strigl says the change is necessary because customers are unhappy with the fees. "Early termination fees are tarnishing the ...
(continues)
...
I see this as a push by Verizon to motivate other carriers to pro-rate ETF fees.
Verizon has the best performing network, so if others follow suit, it will be easier to get new customers from the competition.Also if folks live in an area that VZW doesn't do it for them, let them go happy, not PO'd. People want to be able to upgrade phones, and VZW also talked about free backup assistant (they didnt' call it that) for folks upgrading.
This too, is an easy sell to anyone with a lot of numbers. In fact, it's awfully easy to add numbers online. I had to get a few numbers to my wife while she was away and sleeping. I added them via BUA.
Overall a good PR move. I don't work for VZW.
Verizon has the best performing network, so if others follow suit, it will be easier to get new customers from the competition.Also if folks live in an area that VZW doesn't do it for them, let them go happy, not PO'd. People want to be able to upgrade phones, and VZW also talked about free backup assistant (they didnt' call it that) for folks upgrading.
This too, is an easy sell to anyone with a lot of numbers. In fact, it's awfully easy to add numbers online. I had to get a few numbers to my wife while she was away and sleeping. I added them via BUA.
Overall a good PR move. I don't work for VZW.
...
I definitely am! They did me so bad I had to file a report with the better business bureau! Unacceptable! Word to those that want to change this fall: within a year the other companies will follow the same pace that verizon is now setting, so there's no reason to jump on the bandwagon and switch to a bad carrier.
...
sorry you had a bad experience. verizon is the best carrier tho not a bad one, so get your facts right 🤣
...
Thats great business for T-mobile, Cingular and Sprint.
"Sure i'll switch you over! Its only like $30 bucks to cancell verizon!"
J/K
"Sure i'll switch you over! Its only like $30 bucks to cancell verizon!"
J/K
...
actually, this is smart for Verizon. Then other companies need to follow suit and then they can leave their subpar carrier for the Nations Most Reliable...and most customer friendly...company!
...
I thought the same thing, This might hurt a little at first but once the other carriers start pro rating their ETF's (and it will happen) then we should see a rush of people switch. I can see a huge marketing effort once this goes into effect with Verizon's new ad compain somehting like "were the most fair carrier" or "were here for you" or something along those lines.
...
Do you want to make any guesses on whether or not they will pro-rate the chargebacks that indirect agents get if their customers cancel early?!?!?!?
...
LOL. Of course not. We buy a phone from WOW (Verizon makes money off it). Customer activates, Verizon pays us a commission (most of which they already made on the sale of the phone to us from WOW). Customer deacts then we get charged back our entire commission. Verizon still collects an ETF fee. So, Verizon LOST ZERO. The agent lost EVERYTHING. Wow. Racketeering sometimes is more fair!
I have a question that no one can answer.
Why does Verizon Wireless charge the agent 30 to 60 bucks more for a postpaid handset then a prepaid handset when they both are exactly the same handset...only the ESN is in a different database?
I have a question that no one can answer.
Why does Verizon Wireless charge the agent 30 to 60 bucks more for a postpaid handset then a prepaid handset when they both are exactly the same handset...only the ESN is in a different database?
...
Damn it! I wish they would have introduced this last month. I just ported my number to Cingular and now they come with these great changes.
...
good news, cingular has a 30 day risk free period so you can cancel with them, come back to VZW and get your number back and if its been less then 30 days get your ETF back to!
...
Pro-rated ETF's will only be part of new Customer Agreements. Existing customers can get this offer by renewing their service agreement with either a price plan change or phone upgrade once this goes into effect.
...
I guess the BackupAssistant must be Verizon owned software, otherwise I'm sure backing up their phone book for free would probably cause a ruckus. Is it a different application that will do this or is it that BackupAssistant will become free?
...
Just curious as to where you got this information?? Don't want to get excited if it is just a rumor..I have not seen anything official on this information, and some of the stuff you are reporting in the "article" has already been in place before. So can you provide specific source of information??
Just wondering...Thanks
Just wondering...Thanks
...
like I said some of the policies have been in place long before this article came out. And one thing to clarify is that if your phone breaks after the 1yr mfg warranty is over, Yes, they will replace it for 50.00 but it wont be a NEW or Different model, it will be the same Refurbished model that was broken. Just to clarify. Ok, have a good day now...
...
Go to Google News and do a seach for Verizon Wireless. You will find artlcles from hundreds of media outlets confirming that the original post is correct.
KUDOs to VZW.
KUDOs to VZW.
...
... for customers who were waiting for their contract to be over to switch to another carrier?
...
You silly troll...
Of course it will make it easier, BUT all of the rest of the carriers are going to need to follow suit. Just like when Verizon does anything else, all of the other carriers are soon to follow. It will just make switching carriers easier for everybody in the long run. Once again, Verizon is looking out for the common cell phone user.
Of course it will make it easier, BUT all of the rest of the carriers are going to need to follow suit. Just like when Verizon does anything else, all of the other carriers are soon to follow. It will just make switching carriers easier for everybody in the long run. Once again, Verizon is looking out for the common cell phone user.
...
Actually, Cingular did just the opposite in the Care markets. We used to prorate the ETF. I think sometime last year we stopped doing this.
I think that instead of all other carriers following suit, Vzw will go back to the fixed ETF. (this is def gonna happen if all of a sudden churn goes up) Don't you think?
I think that instead of all other carriers following suit, Vzw will go back to the fixed ETF. (this is def gonna happen if all of a sudden churn goes up) Don't you think?
...
i thought cingular has been doing this for quite sometime now 😕
i thought it was some thing like $10.00 per month on a 2year contract.
$20.00 per month on a 1 year contract.
maybe i was dreaming or something or nope its in my sale program dated 12/05-05/06.
i'll ask my rep if they still do it.
i thought it was some thing like $10.00 per month on a 2year contract.
$20.00 per month on a 1 year contract.
maybe i was dreaming or something or nope its in my sale program dated 12/05-05/06.
i'll ask my rep if they still do it.
...
i think the ETF should be a varient of your arpu vs. the phone you signed the contract for vs. the plan that phone is on.
so that way if the company has gotten its money back plus a viable amount of profit from your account you can get out of contract in an affordable matter.
it might suck for that 9.99 add a line thats walking around with a treo or that person with a high end phone on the 39.99 plan but hey i think thats how ETF's should roll.
so that way if the company has gotten its money back plus a viable amount of profit from your account you can get out of contract in an affordable matter.
it might suck for that 9.99 add a line thats walking around with a treo or that person with a high end phone on the 39.99 plan but hey i think thats how ETF's should roll.
...
I wish verizon would let you just buy a phone full pop, yes i know it would be expensive, and go no contract right off the start. I think that would give peopel options and show customers the real value of their equipment, phone is 50 bucks on a two year, 100 bucks on a one year and 250 with no contract. Something like that.Then if you sign a two year(
causing verizon to eat $200 bucks off the start) then divide that by 24= 8 bucks a month. So if you cancel after only 12 months you should owe $8 x 12 months = about 100 dollars once ou round everything, that would be the most fair, but i doubt any of that is coming anytime soon.
causing verizon to eat $200 bucks off the start) then divide that by 24= 8 bucks a month. So if you cancel after only 12 months you should owe $8 x 12 months = about 100 dollars once ou round everything, that would be the most fair, but i doubt any of that is coming anytime soon.
...
