How much is the Early Termination Fee for Verizon FIOS? How much is the Early Termination Fee for Verizon FIOS?
News    10/28/2020

How much is the Early Termination Fee for Verizon FIOS?

Verizon FIOS is one of the fastest internet connections available in the US, with 900 Mbps download speed and 880 Mbps upload speed in select cities and states.

Like any other service, however, it comes with downsides such as being currently available only in nine (9) states and coming with a higher price than its competitors.

Whether you might be moving to a new area not supported by Verizon FIOS yet or might be changing providers --- the question about the Early Termination Fee (ETF) remains. A standard in most service, an early termination fee is charged to customers who cannot finish their initial contract with the provider.

Usually, these contracts range from one to three years. Should the customer decide to terminate the service before the agreed period, an ETF is charged.

For Verizon FIOS, the ETF starts at $350 after the first 30 days guarantee. For each month, $15 is reduced from the fee until you finish your contract.

How to avoid paying Verizon FIOS Early Termination Fee?

For customers moving to a new location not supported by Verizon FIOS, they offer a refund once the new place is confirmed.

However, if the necessary documents are submitted within the first 30 days of the disconnection, you might be even able to avoid paying it at all. If the documents are submitted after the billing, it needs to be paid initially and later on refunded.

Another alternative to not paying the early termination fee is… to check if you really need to cut the service as soon as possible. This all depends on how long you are in your contract.

If you only have a couple of months left, it could just be $30. However, if you have just started with the service, terminating the contract will bring you back hundreds of dollars, and it might be a better idea to wait it out. Ultimately, it depends on the urgency of how soon you need the service to be terminated.

Early Termination Fee Refund when Moving to a new Address Not Supported by Verizon

When doing the termination online and moving to a new place not supported by Verizon FIOS, the form can be accessed here. A document that confirms the new address, such as a voter registration card, a utility bill, or a government-issued ID, is also required to be uploaded.

Additional requirements include

  •  The form must be completed within six months from the disconnected date
  •  Submitted for review within 60 days from the disconnection
  • Must include the full name that matches the name on your Verizon FIOS account
  • Must include the new address

 Once the new location is confirmed, the amount will be credited to your Verizon account.

How to terminate your Verizon FIOS contract

The first step is to find your latest Verizon FIOS statement and find your account number and the balance owed, if any. Then contact Verizon at 1-800-Verizon or 844-837-2262 from Monday to Friday, 8:00 AM to 5:00 PM EST, request to speak to a customer service representative, and inform them about your contract termination.

Depending on your length of contract and outstanding balances, the agent will inform you of the amount you need to settle. At this point, you will reach the Customer Retention department, where the agents are trained to encourage you to stay with exclusive offers and promos.

Come prepared as negotiating customers to stay are their expertise. Be firm with canceling the service, but also remain kind and polite.

To get through this smoothly, prepare a solid reason why you want to terminate the service and be firm about it. Communicate clearly that you are not looking for better deals or special offers or discounts.

If you are moving to a new home, it is also best to indicate that the new place already has an internet connection in place, or you can even throw a white lie and say you are moving overseas. However, if you are indeed moving to a new city or state that Verizon FIOS does not support, take advantage of this and avoid paying an early termination fee.

You can also get a refund if the early termination fee is included in your final bills—more details about this above.

The agent will also give instructions on how to return the Verizon equipment within thirty (30) days from the disconnection date. This could either be through a postage-paid return box from Verizon or couriers like UPS, who might ship the equipment back to Verizon with no charge.

Another alternative is to personally drop off the equipment at an authorized Verizon store in your area. Being unable to return the equipment within the allotted time frame would cost you unreturned equipment charges and Verizon charges for each piece of equipment.

Ask the agent for a list of equipment that you need to return and double-check everything before sending it over or dropping it off.

Before hanging up, remember to confirm the cancellation! You should explicitly state this and before ending the call, ask the customer service representative to confirm this with you. If not, you may have had just chatted with an agent only to find your subscription is still active, and you are continuously getting billed for it. In this case, you will have to call again.

Once the service is canceled, Verizon recommends its customers to still check their My Verizon account to check the final bill's status, track the equipment return, and monitor the status of the pending refunds, if applicable.

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