Update (May 5, 3:50 p.m. ET): Verizon clarified in an email to Android Central that postpaid customers will not be charged an Economy Adjustment fee and will see an increase in their billing management fee of $1.35 and up to $3.30. This will take effect for the June 2022 billing cycle.
Verizon also clarified that business plans that meet certain conditions will see an economic adjustment fee. These terms include lines that have recently been activated or upgraded, existing plans that have completed a contract-based line term, and lines that have 12 months or less remaining in a device payment plan.
The article has been updated with this information.
What you need to know
- Verizon is increasing fees for both business and customer accounts starting in June.
- The cost of its plans will remain the same with new “economic adjustment fees” and increased administrative fees affecting customer bills.
- This additional amount will be charged to each voice line until family plans see a greater increase in cost.
If you’re a Verizon Wireless customer, your bill will go up in June. Verizon is set to add an “economic adjustment fee” to some lines of business and increase management fees for its postpaid Verizon customers. Like Reported by BloombergThese new fees will apply to both consumer and business accounts, although some business plans will pay a bit more.
Verizon is increasing its administrative fee for consumer lines by $1.35 to $3.30 for the June billing cycle. This fee applies to each voice line in the account, so if you have more than one line with a voice service, you will be charged for each line. Business data plans will see a larger increase of $2.20, and basic plans will see an increase of $0.98 with an economic adjustment fee.
This is the first time in two years that the carrier has increased and is associated with increased inflation. according to 9to5Mac. The post also indicated that AT&T will be raising prices for some old customers as well.
Speaking to Bloomberg last week, Tammy Irwin, President of Verizon Business, said:
“We are all feeling the pressure and we were in the process of determining how much of that pressure we can share with our customers.”
Despite the increase in the monthly cost of its plans to consumers, Verizon is not updating the price of its plans to reflect these new fees and will continue to announce plans at the same price.
While Verizon still has some Best Cell Phone Plans For features and coverage, there are quite a few prepaid phone plans available for those looking to save on wireless plans. This includes the Verizon-owned prepaid brand Visible which offers unlimited data with lower priority with all fees and taxes included with the price. While postpaid Verizon customers will enjoy higher priority data speeds, many people will be more than happy with the speeds found on prepaid plans.
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