I may have missed someone saying this but I see most of your point Sailsbury. By moving everyone's due date up 3 days Verizon is profiting and collectively in a large way but I don't see your individual cumulative point. By moving the due date up by 3 days they are absolutely collecting an extra 3 days at some point but once that happens the first month it's the same month to month then from there not an extra 3 days each month. So if my cycle runs 18th to the 18th and is changed to the 15th it's still then 15th to 15th each month but if I were to change carriers without overlap based on my original set up my new contract wouldn't have needed to go into affect till the 18th but now I have to start it on 15th so 3 days earlier, I have paid twice for those 3 days. Or more to the point Verizon collected money from me for 3 days that they didn't provide service but not 3 days each month. Now should they do this more than once during my service with them then we are talking about 6 or 9 days, however many total over the time I was a customer that they moved my payment cycle up. At least that's the way I'm seeing it. Now again this doesn't make it right and they are defanitley making a little money on a lot of customers, otherwise as I think someone else pointed out, why would they do it. There is no other purpose I can think of to move everyone's dates ahead by 3 days. It's insignificant enough that most customers wont really notice and probably calculates somehow to an amount that works for something. For me it is disappointing, I've been a pretty loyal customer for a long time now and even put up with road bumps over the years that weren't advantageous to me but I've chosen to be loyal rather than continue to shop and jump around, probably not the smartest move financially.
The billing cycle itself isn't changing unless the customer requests to change it. It is the bill due date being changed. If your cycle runs from the 18th to the 17th of each month and your old bill date was due on the 13th. The new bill due date would be the 9th or 10th of each month depending on how they are counting the days. How is VZW profiting from that?
I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.
If that's the case, that the billing cycle dates remain the same and it's simply the number of days you have to pay that is changing then you are absolutely right. This isn't the way I understood it from the original question or discussion statement, the way I was understanding it is that they were moving the whole cycle and billing up by 3 days. That said, they are still making money by simply shortening the payment period by 3 days just not in the way I was describing and more of a gray area. By shortening the grace period they are making sure they have that money to invest in their hands sooner and let's face it right or wrong plenty of people who are living month to month, can't pay weeks in advance and wait until that due date to make their payments are going to get caught because they are used to a certain date. I know I will have to reset my calendar reminders which I have set to give myself a few day cushion but there will be plenty of customers who end up having to pay late charges because they get caught with the due date change. Thanks for calling me on the details difference, I hadn't even thought about extra "float" time and late fees they are probably creating. Again not that they don't have every right and that these aren't common areas of revenue for service providing companies.
Salisbury, we can understand your concern regarding the change in your payment due date. I welcome the opportunity to clear up the details. This change actually came about as a result of our now ended switcher promotion. When getting the final bills from our competitors former customers who made the switch over to us, they all had a similar billing experience for their due dates (AT&T due 21 days after bill cycle ended, T-Mobile due 23 days) and when they assessed a late fee. Accordingly, to ensure consistency among carriers, we updated our billing practices so that they too, were aligned with others in our industry. As a result, we now require payment 22 days after the bill date but no late fee is assessed until the 25th day if not received. To make sure this change wouldn't impact existing customers significantly, they have the option that they've always had which is to change their billing cycle to ensure the payment due date is based on when they need to submit their payment. We even provide a courtesy credit of their prorated expenses as a result of a billing cycle change being requested in order to have a specific due date. These changes started back in August for our customers and all customers will be updated to the new change by the end of next month. Thus far, it hasn't had much of an impact especially since our customers do have the flexibility of changing their billing cycle to dictate when their bill will be due. They also still have the option of AutoPay in which to set their bill cycle date.
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Thanks Ebony for the additional info
This is exactly what myself and others have been relaying all along--that it simply standardizes the amount of days to pay the bill so that all customer's have the same amount of time and again, doesn't affect the bill cycle or service or amount of days that service is paid for.
Again, we appreciate the added information!
Hi ebonyr_vzw, thank you for your post in this discussion. I'll go in depth with you within the next 2 days. It will particularly pertain to Wall Street and what lead to the billing due date changes. It has nothing whatsoever to do with AT&T or T-Mobile, as you've mentioned, or really anything you've posted.
So let's get to the chase based on what you've posted. You said: Customers do have the flexibility of changing their billing cycle to dictate when their bill will be due . Would you please elaborate on what you said?
Based on what I've been informed from Verizon. My bill date will roll back 3 days. And if I want to keep it on the same due date. Then Verizon will charge me and all customers to do so.
Ebony_VZW Leading into 2017 Verizon had poor quarterly showings. What happened is that Verizon as any carrier loses customers quarterly. For every 1 they would lose they'd gain back 2 more. So basically it offsets and there's a continuous growth. But during that period they went stagnant. Not because of poor service, but because the industry changed and Verizon CEO's weren't savvy.
When that took place Verizon dropped 4.4 percent on Wall Street and big investors started to dump stock shares. In a desperate lazy decision by a CEO to counter it. They'd roll billing due dates back to show a big gain. Which is just putting a bandage on it, and not a long term solution.
If a CEO makes 10 million a year with a private corporate jet doesn't mean he's intelligent. You could take a group of high school kids as a project, and they would come up with a better strategy. Than penalizing customers and using rhetoric with the assumption our customers are so stupid they'll just accept it.
I took one iPhone out of service and will take the other out soon. We deserve more than this folks,
Both Verizon and ATT lost big to T-mobile last quarter. If you notice, T-mobile is no longer #3 carrier, they are number 2 and rising. Their prices have also risen, or the other 2 have lowered to stay in the running.
As for the 3 days, it was to standardize the number of days. Some customers due dates were moved the other way. It didn’t change anything else.
The industry is trying to conform to 21 days to pay.
mama23dogs, this has nothing whatsoever to do with AT&T or T-Mobile. The standardization of number of days or cycles is completely Verizon Corporate rhetoric. I spoke with them on the phone in great detail. Your bill date goes back 3 days. If you want to keep it the same you pay to more. Now you mention roll back the other way, that makes no sense at all, of course they would. That's what they want.
If you have a mortgage payment or car payment or credit card etc. and they now want payment sooner???
People would no doubt say oh ya how great, you're just standardizing, and thank you for doing this. Come on use common sense here!