Cell-Phone Bill Watch: Introducing the $350 Early Termination Fee

By Brad Tuttle | @bradrtuttle | December 3, 2009 | +

For some smartphones, the fee for jumping ship and canceling your service plan early is now a whopping $350.

Verizon Wireless, which used to charge a $175 at most for what’s known as an ETF (early termination fee), doubled the fee that’s listed in the fine print of many new contracts. Per LA Times’ David Lazarus:

The in-your-face fee applies to BlackBerrys, the much-touted new Droid phones and other smart phones capable of sending and receiving text messages and e-mails as well as accessing the Internet.

Cell-Phone Bills: Even Economists Can’t Make Sense of Them

The People Vs. Cell-Phone Tyranny: A Case for Lower Monthly Bills

@TIMEMoneyland

Latest on Moneyland

Smart Spending May 16, 2012

Wednesday Is For Lovers of Cheap Wine

On a Wednesday not long ago, the flash-deal wine specialty site WTSO (WinesTilSoldOut) sold more than 87,000 bottles in a single day, grossing over $1 million in sales. Another Cheapskate Wednesday is set to take place on May 16.
From our Partners
Cheap Thrills: 8 Ways to Save Money at the Amusement ParkDaily Finance

Romney: 'I'll Take a Lot of Credit' for Auto Industry RecoveryThe Huffington Post
Too Broke to Go Bankrupt: Price of Chapter 7 Is More Than $1,500Daily Finance
Rick Santorum Endorses Mitt Romney … At 11 p.m. The Huffington Post
Job Markets May 16, 2012

Google and Apple Top List of Companies Grads Most Want To Work For

While America’s leading tech companies (again) top the annual list of popular employers for soon-to-be graduates, you may be surprised at three companies that rose from the grave of popular opinion in 2012.

http://money.blogs.time.com/2009/12/11/report-verdict-fcc-needs-to-improve-oversight-of-wireless-phone-services/ Report Verdict: ‘FCC Needs to Improve Oversight of Wireless Phone Services’ – It's Your Money – TIME.com

[...] that's some serious spin there. Verizon just demonstrated its "flexibility" by introducing a highest-ever $350 ETF, and it's not even prorated. You cancel anytime before the contract runs out, and you're hit with a [...]
http://money.blogs.time.com/2010/04/09/whine-time-31-annoying-fees-gripes-and-ways-your-money-is-wasted/ Whine Time: 31 Annoying Fees, Ways Your Money Is Wasted, and Other Reasons to Gripe – It's Your Money – TIME.com

[...] Scenarios Where Early Termination Fees Apply. Includes the obvious one—the fee of up to $350 for canceling your cell phone before the contract is up—but also the rather hefty fees you can incur for early termination of [...]
http://money.blogs.time.com/2010/04/26/cell-phones-when-does-it-make-sense-to-drop-the-contract-and-switch-to-prepaid/ Cell Phones: When Does It Make Sense to Drop the Contract and Switch to Prepaid? – It's Your Money – TIME.com

[...] OK not having the coolest new feature-laden handset, and if you really, really hate the idea of an early termination fee, in which you'll be charged as much as $350 for trying to get out of your wireless contract, then [...]