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Tuesday, Jul 29, 2014

Verizon Cancels $2 Fee for One-Time Payments

December 30, 2011|4:16 pm

Verizon has decided to cancel its $2 fee for one-time payments after consumers let the company know how they felt.

Earlier today it was announced that the company would begin charging customers using their one-time payment plan via phone or Internet a $2 fee, meant to cover convenience costs for Verizon.

In a new statement issued by Dan Mead, president of Verizon Wireless, the company states: “We take great care to listen to our customers. Based on their input, we believe the best path forward is to encourage customers to take advantage of the best and most efficient options, eliminating the need to institute the fee at this time.”

Mobile giant Verizon had planned to institute a new fee for credit card payments, beginning Jan. 15.

The charge of $2 was to be applied to wireless customers who “make single payments online or by telephone.”

In a statement issued by Verizon, the charge was meant to cover “costs incurred by [Verizon] for only those customers who choose to make single bill payments in alternate payment channels (online, mobile, telephone).”

The fee would not have applied to customers who pay using AutoPay, gift cards, or electronic checks. According to reports, Verizon has over 91 million customers, though it was unknown how many would have been charged this fee.

Verizon is currently the largest wireless provider in the United States, giving it an edge on other providers. AT&T is the second largest provider; the two companies have been going head-to-head for the latest technology and more customers. With the new fee, there was speculation that Verizon customers may switch to AT&T, which currently has no charge for one-time payments.

Verizon’s planned fee was only the latest in a line of recent corporate fees for service. Bank of America attempted to institute a $5 fee for debit cards in October, but after a month-long battle and public outcry, the bank dropped the plan. Public outrage over the fee even reached Congress, and President Obama stated that the charge was “not good business practice.”

The new charge was sure to bring much upheaval and outrage, according to analysts and customers.

Source URL : http://www.christianpost.com/news/verizon-issues-new-charge-for-payments-66074/