In this economy the banks may be dropping (or restructuring) the way they charge their fees, but the cell phone companies have decided to up theirs. Verizon just announced a new $350 Early Termination Fee. Article link and more below the break...
http://tech.yahoo.com/blogs/null/154280
Now while I understand the need to keep your customers... especially with them subsidizing the cost of the phone for you anyways... but really? $350? That's more than what a new phone would cost the company anyways... unless it's an expensive SmartPhone or iPhone look-alike. And really, how many people actually have the $600 phones at Verizon?!
How about we just charge the customer the full cost of whatever phone they purchased... plus say a $50 transaction fee for cancelling early. (Gotta pay for the red tape somehow, right?) I think that would be a much more fair practice than socking it to everyone with massively exorbitant fees.
Something tells me the Verizon customers will be jumping to another carrier. The problem is the other carriers will most likely follow suit since they all like to keep in lock-step with each other. You would have thought the law suit against Sprint would have taught them to keep their stupid termination fees under control...
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