I realized I did not have the money in my Valley bank account so after I made the payment to FIOS online, I hit the cancel payment and it still said processing and then I got both a text and online message thanking me for my payment, and now I am going to get an overdraft fee of $36.00. This is complete fraud. I had a long chat with someone online without any resolve and they told me to call on monday. If verizon does not pay my overdraft fee I will have to close my account. If they let me because they told me I had an account which I never signed in for.
Unfortunately you are blaming verizon fios for a problem you created. Although you caught the situation in many cases the automatic payments system cannot cancel it that quickly.
I know that companies get your money faster than they refund it. I often wondered why but I guess it depends on who or what they use to process any payments.
verifying you have the funds is what you should have done. If payment was made in such a manner to avoid termination of services or to keep verizon at bay while you cover the amount it was a bad gamble.
terminating your service may incur a early termination fees or worse. So use caution before you make such a decision.