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Early Termination Fee for a 7 year customer

Early Termination Fee for a 7 year customer

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Contributor thedimples
Contributor
Posts: 3
Registered: ‎01-28-2016
Message 1 of 8
(2,720 Views)

I am moving, eventually to Houston, TX but not for 4-6 months while I travel, and I am slammed with the good o'l ETF. To be sure, I was thanked for being a 7-year customer, I wonder how much I've paid in that time period BUT you're getting fee. 

 

What I don't understand the people moving in are already FIOS. How did I know this? Verizon sent multiple emails and even contacted me to let me know a new request has been placed, so in essence,  not only is Verizon not losing anything at this address, they still have contract at the same address.

 

So, here's my thinking, since Verizon took the time to "CALL" me, who am I likely to call when I finally settle down? 

 

And, here's the question for Verizon, how much does it cost to acquire a new customer? Is that $120 worth it?  The wireless companies used to take this stance, where are they now? 

 

7 REPLIES 7
Platinum Contributor II Platinum Contributor II
Platinum Contributor II
Posts: 7,581
Registered: ‎11-04-2008
Message 2 of 8
(2,670 Views)

This is a peer to peer forum.

You got the advantage of fixed prices for the contract terms as well.

So you both have benefitted.

And they are losing out as you had promised to pay for 2 years and they agreed to fixed price.

The fact they the new onwers are already FIOS, is irrelevant.

If you had new FIOS customers moving in, you might could make a case.

Unfortunately, this is the way most service providers with ETF contracts react these days.

BTW, these are all my opinions as I am not affiliated with Verizon in any way except being a customer like you.


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Copper Contributor Airwolf
Copper Contributor
Posts: 33
Registered: ‎01-27-2016
Message 3 of 8
(2,582 Views)

Just because you are a customer of 7 years why does that make you think that you have any advantage or should get any special treatment when you are in a contract that you agreed to? A contract is a contract.

I could say well I've been with them for 20 years......doesn't make a difference when I agree to a specific contract term.

It was mentioend, but during the contract term you receive a discounted subsidized rate. When you cancel they want part of it back since you won't be holding your end of the term.

All of them that have contracts do this and it's been this way for years.

 

 

 

Contributor thedimples
Contributor
Posts: 3
Registered: ‎01-28-2016
Message 4 of 8
(2,286 Views)

you missed the point!

1. The new occupants are NEW FIOS customers.

2. What's the cost of courting/gaining a new customer? $120? less? more?  

 

Btw, they're not loosing anything. Those hardwares are pennies on the dollar in the grand scheme of things and volume they purchase. 

 

Wireless service had the same stance a few years ago, where are they now. And you actually just reminded me, I have Verizon wireless... need to terminate that. 

 

The customer has a voice!

Platinum Contributor II Platinum Contributor II
Platinum Contributor II
Posts: 7,581
Registered: ‎11-04-2008
Message 5 of 8
(2,273 Views)

Your original post didn't say they are new customers.

You just said they are already FIOS.

I (and I assume others) assumed you meant they were FIOS customers and just moving.

Not that they were new.

You asked about wireless.

They dropped contracts with ETFs.

They also dropped discounts you got with the contract (remember when you could get a brand new phone for $200? Now they are $600).

So Verizon could drop contracts with ETFs. And you would be like the month to month folks.

No discounts.


If a forum member gives an answer you like, give them the Kudos they deserve. If a member gives you the answer to your question, mark the answer as Accepted Solution so others can see the solution to the problem.
Contributor thedimples
Contributor
Posts: 3
Registered: ‎01-28-2016
Message 6 of 8
(2,241 Views)

Its obvious we have different perspective. 

1. how much does it cost to get another customer? 

2. what is a lifetime customer worth to you? 

3. what does a prime time ad or superbowl add cost verizon? 

 

THESE are my perspectives.

 

I am going to get online somehow after my 4 month travels. I need a provider. So which is easier for VZ? 

Platinum Contributor II Platinum Contributor II
Platinum Contributor II
Posts: 7,581
Registered: ‎11-04-2008
Message 7 of 8
(2,210 Views)

What does it matter how much it costs Verizon to aquire another customer?

Your plan is to move to Houston (notwithstanding that in 4-6 months Verizon will no longer have service there) how does Verizon know you will resign?

How many people would claim to resign with Verizon in a couple of months if they just waive the fee?

How does Verizon track that? And if you didn't, how would they get their money back.

And how long of a customer do you have to be to get it waived? Or does the amount of ETF vary by the length of time you have been a customer.

Verizon (and other providers) are only looking at the customers currently under contract.

How long you have been (or may be) is not as important.

If your contract was expriring and you were looking to leave, they might try and give you a deal.


If a forum member gives an answer you like, give them the Kudos they deserve. If a member gives you the answer to your question, mark the answer as Accepted Solution so others can see the solution to the problem.
Highlighted
Bronze Contributor II
Bronze Contributor II
Posts: 214
Registered: ‎08-02-2013
Message 8 of 8
(2,158 Views)

Yeah ETFs are no fun.  You see them most often with ISPs and cell phone companies. 

 

I had a friend who had rationalized walking away from his house and mortgage in the last recession.  His position was "noone reads all that paperwork" and that he had been verbally told he could refi in a few years.  A few years later the house was worth less than what he had paid and noone would refi it, so he walked.  

 

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