Understanding Verizon Fios Early Termination Fees

Is Verizon Fios charging you a bogus Early Termination Fee? FairShake can help.

"What you should know about early termination fees"

If you are trying to cancel your Verizon Fios account early, you might face early termination fees and not even realize that they were part of your contract. Here’s what you should know.

Why does Verizon Fios charge early termination fees?

Early termination fees are a common feature in any contractual agreement. When you sign up for Verizon Fios, you enter into a contract. They make it seem very casual and easy, you just click a few buttons, scroll through some text that looks like boilerplate, and away you go. But inside that boring boilerplate text is where you will find information that says under what circumstances you can cancel your contract with Verizon Fios early, and what you have to pay if you do. These are the early termination fees.

What types of early termination fees does Verizon Fios have and is it legal?

Based on their posted policies, Verizon Fios has very strict early termination fees. Verizon Wireless charges an average of $350 and not all accounts are prorated. Those that are, are reduced by $15 per month of the contract. 

Verizon is regularly the subject of many early termination fee complaints lodged with the FCC, the BBB, and FairShake. As one BBB user explained: 

I terminated my Fios service because Verizon rolled me into a new program in June and my TV and internet two services are billed at $185 while I never contacted Verizon for the past year to enroll in anything new. I called to discontinue the service. Because the new program rolled in already and they told me I would have to pay an early termination fee of $300 becasue this is a 2 year contract – that means I would either pay $300 or $185 for the remaining 23 months.”

How do I know if my contract with Verizon Fios has an early termination fee?

Review your contract with Verizon Fios. You will find any information on an early termination fee here or in the terms and conditions.

How can I avoid or minimize an early termination fee from Verizon Fios?

The most common reason people are charged an early termination fee that they shouldn’t be is because they were misled by a sales member. If you can prove that a Verizon Fios sales member gave you misleading information about things like the cancellation terms for your contract, the length of your contract, or the price of your contract, then you shouldn’t have to pay any early termination fees associated with canceling. 

What if I wasn’t told there’s an early termination fee?

You might be under the impression that you don’t have an early termination fee simply because the company didn’t go out of their way to tell you about it or they don’t include it as listed under your bill. However, sales staff are not required to tell you about it so long as they provide you the information through the terms and conditions and don’t actively mislead you. If they did mislead you, however, there are things you can do about it.

Can I negotiate my early termination fees?

Yes you can. First of all, when you speak to Verizon Fios customer service, make sure that you have all of the written documents from your agreement. If you come to an agreement, you will also need to get a copy of it all in writing. Second of all, you might be able to negotiate your contract so that it is a much lower service in exchange for a lower monthly fee until such time as your contract expires so that you avoid the early termination fee entirely. 

I’m being charged an early termination fee but I shouldn’t be, what can I do?

With FairShake, you can fight back when corporations charge you an early termination fee that you don’t deserve.

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