For some smartphones, the fee for jumping ship and canceling your service plan early is now a whopping $350.
Verizon Wireless, which used to charge a $175 at most for what’s known as an ETF (early termination fee), doubled the fee that’s listed in the fine print of many new contracts. Per LA Times’ David Lazarus:
The in-your-face fee applies to BlackBerrys, the much-touted new Droid phones and other smart phones capable of sending and receiving text messages and e-mails as well as accessing the Internet.
Read more:
Six Ways to Break Your Cell-Phone Contract Without Penalty
Cell-Phone Bills: Even Economists Can’t Make Sense of Them
The People Vs. Cell-Phone Tyranny: A Case for Lower Monthly Bills