How long does it take to get my $250 deposit back?
mathesonjb
Newbie

Im not on a contract, it's just month to month, and i'm on my 3rd month of service.

0 Likes
Re: How long does it take to get my $250 deposit back?
phan
Enthusiast - Level 3

The deposit was for a postpaid account right? It takes a year with uninterrupted service to get the deposit back. It is typically applied to your bill (so you end up not paying for service for one month, if monthly service is less than 250)

Re: How long does it take to get my $250 deposit back?
jmw1950
Specialist - Level 2

The answer is a little more complicated. If your service includes Telephone Service, the requirements for deposit refund/return and conditions for it are usually spelled out in considerable detail by Public Utilities Commission (or whatever the state regulatory agency is). If the services provided are just Internet and/or Television, the PUC lacks jurisdiction, and the rules are pretty much whatever Verizon says they are.

It is important however to distinguish between Prepayment and Deposits. Some companies will call it a prepayment  to establish service so as to avoid the PUC rules regarding deposits. If it is a prepayment, there is nothing that prevents you from using the prepayment as payments for bills as long as you have a credit balance.

In general, if your payment record is acceptable (as defined by the PUC), a year is the upper limit on how long a deposit can be held. In some states, if the deposit is for a regulated service, the utility is required to pay interest on the deposit.

Re: How long does it take to get my $250 deposit back?
Frustrated992
Enthusiast - Level 1

 March 2012 I've moved out of State and Verizon Fios isn't in my area so I had to cancel my service and return my equipment, I have spoken to 5 agents and I have gotten 5 different answer and transferred to several different departments  regarding my deposit , I go online a review my bill it states 0 balance and a credit on my account  all I want is the  credit amount be placed on  the same credit card they used to take my deposit !!!!!! beyond frustrated. I didn't know it would be this difficult to get it returned.

0 Likes
Re: How long does it take to get my $250 deposit back?
NISHI1
Newbie

I will be moving out of the country soon and cancelled my FIOS Account.Promptly returned the equipment.Got it acknowledged and got all the bills cleared.

I have been calling Customer Service for the past 2 months and have been receiving the same answer,"You will get it in the next billing cycle".

Why is the refund taking so long to be credited?

0 Likes