The Verizon pay off the phone is a payment plan that provides any subscriber with the flexibility to access any current device by making a specific monthly payment rather than making every payment upfront. This payment plan will continue until the device you selected is completely paid off.
To be part of this payment plan, you’re required to sign a TCC’s device installation agreement to gradually pay for the device, usually for 24 months. The specific amounts to be paid, including payment terms, can be seen in your first bill, containing the device payment instalment agreement. The monthly charges will be dependent on your Verizon plans. Alternatively, you can also decide to either for it over time or pay in a lump sum, which pays off the total price.
How the Verizon pay off phone program works
As stated earlier, the monthly payment program allows you to pay for devices such as smartwatches, basic phones, smartphones, and tablets over a specified period. The plan comprises of %APR and no finance charges. Also, there is no 2-year contract agreement.
The Payoff phone program:
- The plan entails signing a written agreement to monthly payments for your chosen device until the device is completely paid off.
- Payments can be made in segments over a specific period, or you can decide to pay at once at any given time of your choice.
Keep in mind:
- It’s important to remember that any monthly credit(s) which usually comes in the promotional form will be stopped once you complete the payment.
- You’ll be charged a $20 fee on the activation of any new line. The same is applicable if you intend to make any upgrade through the My Verizon app or online. If you decide to use an authorized store for the upgrade, you’ll be charged an activation fee of $40.
How to effectively complete a Pay Off
- First, you must make sure that you have an updated app. This is because, without an updated app, you’ll be unable to carry out the task.
- The My Verizon app can only be accessed by users with an Android operating system of 5.0 or higher and an Apple iOS operating system of 11.0 or higher. For any other devices outsides these, log on to the My Verizon website in other to manage your account.
- The user type determines the available settings (e.g., Account Manager, Account Owner, Account Member).
Follow the steps below
- Click and open the My Verizon app following the Verizon icon.
- At the bottom, click on the Account tab
- You’ll get a prompt to enter your login details. Put it and click on sign in or next.
- Depending on your mobile number, click on Pay off. It’s important to note that you might be required to scroll the way down.
- Click on Pay off the device – here; any entry balance remaining must be paid in full.
- Review all the necessary information from the ‘Device Payoff’ screen and then click on Continue, located at the bottom.
- Select the payment type from the ‘You’re all caught up’ screen, then click Continue.
- To change the payment method, you need to swipe the screen from the left or right to change a particular payment method. If applicable, you can proceed to add or edit any payment method.
- Validate your original verification code. This can be seen from the ‘Please validate your CVC’ screen, then click on continue.
- Review the information from the ‘Complete Your Payoff’ screen. Then click on Complete Payoff located at the bottom. This may require you to scroll down.
- ‘Congrats, your device has been paid will appear on the screen. Click on it.
Paying off your device payment agreement early
It is possible to pay off your device payment agreement early. This can be done using any of these ways:
- Online through My Verizon Payoff device page. When you log in, navigate to the Pay Off Device displays, which is next to eligible devices for pay off. Tab and follow the prompts.
- Using My Verizon app:
- At the top left, click on the menu.
- Click on Devices & Plans.
- Next is to find the particular device you intend to pay off. Once it is eligible, proceed and choose the Pay Off Device, then follow the prompts.
- Alternatively, you can dial #PMT directly from your device to pay via an automated voice system.
Furthermore, you can pay through an authorized Verizon Wireless store or click on contact us, which can be seen at the Verizon official website’s bottom. However, this method attracts a $7 fee.
Now you’ve known how the Verizon Pay Off Phone arrangement works and the requirements involved. To pay off your phone, you can choose any of the detailed methods listed in this write-up.
FREQUENTLY ASKED QUESTIONS
When you finally Pay off the Verizon phone, what happens then?
Once the Pay Off is done, you’ll proceed to pay your regular monthly cost for your data plan, talk, and text. There will be no more device payment charges on any bill you’ll receive. Also, if there are any monthly promotional credits you usually get, everything will stop. Also, the particular paid off device can be upgraded to a new one.
How do I ascertain if my Verizon phone is finally paid off?
- Check if My Phone Is Paid Off with Verizon
- From the pop-up, tap on continue as a guest.
- Choose your phone’s manufacturer, memory size, model, and color.
- Put in your phone’s IMEI. You’ll receive an error message if your phone is currently being financed. You’ll be notified that the device is not qualified for any trade-in as a result of the current balance.
Is it possible to pay more than my scheduled monthly device payment amount?
The exceptions to make additional payments are as follows:
- You can decide to pay off your entire device payment balance at any time.
- If you’re an eligible Samsung device or Apple device, you can proceed to make the needed payment to complete your early upgrade.
- If you’re on an agreement plan established before 5/31/15 (previously referred to as Edge Up), you can make your payment to complete any upgrade.