Tech

Verizon will increase administrative fees for consumer accounts and introduce a new position for business users

bottom line: Verizon is set to increase the administration fee it charges on some consumer accounts and introduce a new “economic adjustment fee” for select business users starting in June. This is how much you can expect your account to go up.

Beginning in the June billing cycle, the nation’s largest telecom operator will increase its administrative fee for consumer accounts by $1.35 per voice line. According to the CNET report, consumer fees for tablets, smartwatches, hotspots and other information products will not be affected.

A Verizon spokesperson told the publication that the company reviews and makes adjustments to fees from time to time to cover some of its administration, telecommunications, and compliance costs.

Consumer charge adjustments fall into this category.

On the business side, Verizon is introducing a new “economic adjustment fee” of $2.20 per line per month “for smartphones or data lines in plans that have recently activated or upgraded a line, have completed the “contract-based line term” or 12 months or less remaining on the device’s data plan.”

Non-smartphones and tablets will be charged a recurring fee of $0.98 per month. CNET added. Both fees will take effect on June 16th.

“The current economic conditions affecting businesses worldwide continue to escalate and despite our best efforts to mitigate further impacts, we intend to offset some of these costs through the introduction of an economic adjustment fee,” the spokesperson said.

Earlier this month, AT&T competitor announced price increases on old mobile service plans by as much as $6 for individuals and $12 for families. AT&T has also increased the cost of some internet plans by $3 per month.

In April, during a company earnings call, AT&T CEO John Stankey said there was no doubt that there was pressure on a wide range of products and services and that AT&T was not isolated from it. “I don’t think anyone in the industry is immune to this, and it’s not a good position for the economy as a whole,” Stankey added.

Image credit: Leon Bredella, Karolina Grabowska


Source link

Leave a Reply

Your email address will not be published.

Back to top button