When I ordered VZN High Speed Internet today, the online order form required a $250 deposit. It kept referring to my service as FIOS, even though it is really DSL.
What's the deposit for? I am prepaying for the modem/router and service and I have a no-contract plan. It's not like I'm having anything installed, like real FIOS, or getting a phone, like on a wireless plan. What gives? I had DSL about five years ago with Verizon and I wasn't charged a deposit, and they gave me the modem for free.
If I cancel before one year, will I have problems getting a refund? The order agreement says that the deposit will be refunded with one year of timely payments, but I am month-to-month - so what if I cancel before one year. The last time I cancelled my DSL service it took six billing cycles to get the refund for the last payment when I stopped service before the end of the billing cycle. That refund was only a few dollars, whereas the $250 could cover 5 months of my $49.99/month service. It seems more than a bit ridiculous.
The deposit is based on your credit profile. Not because Verizon needs the money or doesn’t like their customers. We are just a number 😀
however since you are a month to month I don’t see why you would not get your moola back if you leave before a year is up.
there is also a 30 day customer back out period. And if you paid via credit card a simple charge back will get your money back. Save the receipt showing the payment.
the deposit refund covers normally any charges owed when you leave. So it can be smaller depending if you owe any service close dates. You cancelled after the bill closing date.
I very much appreciate your input.
I understand credit checks and deposits, however it does not seem like the deposit should be required in this case; I am fully paying for the modem outright, there is no installation, and service is prepaid/pro-rata billing rather than being paid in arrears.
Usually a deposit is given as security for something (of value) being received. In my case, the service and equipment are all pre-paid so what is the deposit securing, and isn't $250 very high for whatever is being secured?
I asked Verizon customer service these questions. Their answer is that a deposit is required as a condition of service, along with the extra suggestion that I am free to look elsewhere for Internet service.
The upshot is that I will grudgingly capitulate to the deposit. It doesn't make sense and it is egregiously high. As for the idea that I am free to look elsewhere for Internet service...I'll see what my local public service commission says about that.
When you have a company telling you it’s ok to find service elsewhere, you know that’s not good.
i would actually find that other service if possible and go.
now on a prepaid service which I understand you purchased the router, there is no premise visit necessary and you are paying the service in advance (how?) via bank debit,credit card, cash at store? This has me confused.
i have heard of prepaid phone service, phone cards, prepaid cellular, but never a prepaid Fios service. I could not find a reference to it via Verizon search.
The deposit amount is normally $400 with a sliding scale depending on service requirements. $250 is mid range or a little above, but Verizon should explain just why they arrived at that deposit amount.
I think I found it. Not at the Verizon web site but through google search
is this it?
https://www.verizon.com/support/residential/account/manage-service/prepaid
According to the web site no deposit is required. I would call Verizon back and explain that to them via their own announcement.
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