How Much Does It Cost to Cancel My Verizon Wireless Plan?
If you want to cancel your current Verizon Wireless plan, you will be subject to an early termination fee. This fee is based on the phone you are using and the number of months left on the contract. The max early termination fee for smartphones is $350, and for basic phones, it's $175.
Are you looking to cancel your Verizon Wireless plan early? In this guide, you will learn the costs of canceling your plan and paying an early termination fee.
Early Termination Fees
If you are looking to cancel your Verizon Wireless plan early, you will pay what is known as an early termination fee. Payment amounts change depending on the amount of time you have left on your contract. There are also different fee amounts based on the phone being used on the plan, which can be a smartphone or a basic phone.
Smartphone Early Termination Fee
When canceling a Verizon Wireless plan that is for a smartphone, you will be subject to a maximum early termination fee of $350. This early termination fee is lowered by $10 each completed month of your plan through months 7-17, $20 per month upon completion of months from 18-22, and $60 upon the end of month 23.
Early Termination Fee Example:
If you are canceling your Verizon Wireless plan 12-months into a 24-month plan. You would be taking away $60 from the maximum fee amount. This amount was chosen by being six months into the months of 7-17, where there is a deduction of $10 per month paid. Your early termination fee would be a total of $290.
Basic Phone Early Termination Fee
When canceling a Verizon Wireless plan that is for a basic phone, you will be subject to a maximum fee of $175. This early termination fee is lowered by $5 each completed month of your plan through months 7-17, $10 per month upon completion of months 18-22, and $30 upon the end of month 23.
Early Termination Fee Example:
If you are canceling your basic phone Verizon Wireless plan 12-months into a 24-month plan. You would take away $30 from the maximum fee amount. This amount is chosen by being six months into the months of 7-17, where there is a deduction of $5 per month paid. Your early termination fee would be a total of $145.
Further questions?
Solutions to similar problems
Help from Real People
Why does GetHuman Write How-to Guides for Verizon Wireless Problems?
GetHuman has been working for over 10 years on sourcing information about big organizations like Verizon Wireless in order to help customers resolve customer service issues faster. We started with contact information and fastest ways to reach a human at big companies. Particularly ones with slow or complicated IVR or phone menu systems. Or companies that have self-serve help forums instead of a customer service department. From there, we realized that consumers still needed more detailed help solving the most common problems, so we expanded to this set of guides, which grows every day. And if you spot any issues with our How Much Does It Cost to Cancel My Verizon Wireless Plan? guide, please let us know by sending us feedback. We want to be as helpful as possible. If you appreciated this guide, please share it with your favorite people. Our free information and tools is powered by you, the customer. The more people that use it, the better it gets.