Verizon Wireless adds and raises fees for its wireless customers

Verizon Wireless adds and raises fees for its wireless customers

Verizon Wireless will begin raising pricing for its wireless customers starting in June. Customers have been alerted about the impending increase, the first of its kind in two years, and those increases will apply to both consumer and business contracts.

According to Bloomberg, the reason for the increase is so that Verizon Wireless can cushion its rising costs due to inflation. Consumers should see “administrative charges” increased by $1.35, while business customers will have a new “economic adjustment charge” attached to their bill. The adjustments will arrive sometime in June for consumers and will roll out on June 16 for business customers.

Bloomberg states that Verizon mobile data plans will also increase by $2.20, with basic service plans increasing by 98 cents.

Each new corporate contract is a fresh chance at raising charges

Verizon Wireless hasn’t been shy about its new price increases either, with Tami Erwin, head of Verizon Business stating in a recent interview that “we’re all feeling the pressure and we’ve been in the process of deciding how much of that pressure we can share with our clients.” Erwin also stated that “each new corporate contract is a fresh chance at raising charges. Verizon will be able to negotiate higher prices into new service plans when the previous ones expire.” As for Verizon Wireless, it claims that it’s trying to offer better service, touting the quality of its own 5G network.

Price increases are always tough for consumers but it looks to be a trend in the wireless industry. Just a couple of weeks ago, AT&T raised its prices on some of its older wireless plans. The increases were the first for the company in three years, though the company claimed they were necessary due to inflation. Of course, AT&T also encouraged its customers to switch to new plans, which could lessen the impact of the new price increases.

Now, all eyes will fall on T-Mobile, which has made a name for itself by doing things that are counter to the norm. Only time will tell if T-Mobile will be able to commit to its past of being the “Un-carrier”, where it has vowed to keep pricing fair and simple.

Source: Bloomberg


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