Device payment FAQs - pay off with installments

The device payment program gives you the flexibility to always have the latest device. Learn how device payments work, how to view your balance, pay off your device and more.

General information

  1. How does the Verizon device payment program work?

    Verizon's monthly installment payment program lets you pay for devices (e.g., smartphones, basic phones, tablets, smartwatches) over a specific period of time with no finance charges or 2-year customer agreements.

    The device payment program:

    • Requires that you enter an agreement to pay for the device in monthly payments until the device is paid off.
    • You can choose to pay the installments over the full period of the term or pay off the device's total price any time.*

    Keep in mind:

    • When you pay off your device agreement, any monthly promotional credits you're getting for that device will stop.
    • A $20 fee is charged when you activate a new line or upgrade your device through the My Verizon app or My Verizon online (the fee is $40 if you activate or upgrade in a store or by phone).

    Your specific terms and payment amounts are shown in your first bill and your device payment installment agreement.

    *If it's still within the device's 14-day return and exchange period then you can only pay off the device in a Verizon retail store.

  2. What are the installment terms for the device payment program?

    The device payment terms are:

    • 24 monthly installments for smartphones, basic phones, Humx, tablets, mobile hotspots and eligible smartwatches.
    • You can choose either a 24 or a 36-month installment plan for the Samsung Galaxy Note10+ 5G smartphone (256 GB and 512 GB versions).

    Your monthly device payments are charged on your bill.

  3. I'm a Verizon Wireless customer. Can I buy a device under a device payment agreement?

    You can use device payments to buy a device, when you're:

  4. How many devices on device payment agreements can I have on my account?

    You can have as many device payment agreements as the number of active lines you have on your account, as long as you don't go over your financing limits.

    If you go over your financing limits, you may be required to pay a security deposit when trying to add more device payment agreements to lines on your accounts.

    Visit the Devices page in the My Verizon app and My Verizon online for options to add lines of service on your account.

  5. Can I have a device payment agreement without an active Verizon Wireless mobile number?

    No. You must have an active Verizon Wireless mobile number to have a device payment agreement.

    If you disconnect a mobile number that has an active device payment agreement, the remaining balance of that agreement is due on your next bill.

  6. Are devices bought with a device payment agreement covered by warranty and by Verizon's return policy?

    Yes. Devices bought with device payments are covered by the same return policy and come with the same warranties as devices paid for all at once:

    • New devices - 1-year manufacturer's warranty
    • Certified pre-owned devices - 90-day warranty from Verizon Wireless
  7. I'm a Verizon Wireless customer and got a letter about not being eligible for the device payment program. How can I improve eligibility?

    The device payment program is an installment agreement in which you pay for the device over time. That’s why we check for financial good standing on any account in your name.

    To improve your ability to use our device payment option:

    • If your account has had returned payments and your payment options have been limited to cash only, or your account has recently been suspended for non-payment, you can improve eligibility by paying your balance in full by the due date each month.
    • If your account balance is past due $25 or more when you applied for device payment, you'll need to pay off all balances in full to become eligible.
    • If you have any unpaid accounts with Verizon Wireless that have been disconnected for non-payment and referred to an outside collection agency, you may become eligible by making payment in full to satisfy the debt.

    For your convenience, you can make a payment online on the Pay bill page in My Verizon.

  8. Can I add insurance or other device protection options for a device I purchased under a device payment agreement?

    Yes. You can enroll in insurance and other device protection services to guard against loss, theft, accidental damage, and certain post-warranty defects. Learn more about our Device Protection programs.

  9. Do Verizon's Return and Exchange Policy and a 1-Year Warranty apply to devices purchased under a device payment agreement?

    Yes. Devices on the device payment program are covered by these policies.

    Learn more about Verizon's return policy.

Device payments and making installment payments

  1. Why does the device payment program require 2 agreements?

    An installment agreement is required to buy a device under the device payment program. For details see How do device payments work?

    Along with your installment agreement, you also must agree to the Verizon Wireless Customer Agreement and other important terms for your data, text and calling plan.

  2. What's a Device Finance Limit? How does it affect using the device payment program?

    Your account is assigned 2 finance limits that are based on your credit history:

    • A total account finance limit
    • A device finance limit
    • During the online or in-app device payment set up, you’ll see the "device finance limit" displayed with a dollar amount. This is the maximum amount you can finance with device payments.

      Each line on your account has the same device finance limit that can be used until you reach your total account finance limit.

      If you choose a device that costs more than the device finance limit, you pay the difference at the time of purchase.

  3. Can I pay more than my scheduled monthly device payment installment?

    No. The only exceptions to making additional payments are:

    • To pay off your device. You can pay off your entire device payment agreement balance at any time.*
    • If you have an eligible Apple device or Samsung device, you can make the required payment to complete your annual upgrade.
    • If you're on a device payment agreements established before 5/31/15 (formerly called Edge Up), you can make the required payment to complete your upgrade.

    *If it's within the device's 14-day return and exchange period then you can only pay off the device in a Verizon retail store.  

  4. How can I view my remaining device payment balance?

    You can see your remaining device payment balance:

    • On your bill
    • Online in My Verizon or in the My Verizon app:
      • Scroll to Devices and then choose Pay off device to see devices on your account that have a remaining balance
    • By calling #BAL from your device
  5. How can I pay off my device payment agreement?

    You can pay off your device payment agreement any of these ways:

    • Online in My Verizon: Choose Devices from the top menu. Pay Off Device displays next to any device that's eligible for pay off. Click and follow the prompts.
    • My Verizon app: Open the menu and tap Devices. Find the device you want to pay off. If it's eligible, you can choose Pay Off Device and follow the prompts.
    • By dialing #PMT from your device to pay using our automated voice system.

    You can also pay off your device at a Verizon Wireless store or by using Chat with us at the bottom of this page. However, there's a $7 fee for payments made with a Customer Service representative.

    Note:

    • When you pay off your device agreement, any monthly promotional credits you get for that device will stop.
    • To pay off your agreement, your account can't be past due.
    • If it's still within the device's 14-day return and exchange period then you can only pay off the device in a Verizon retail store.
  6. What happens to my monthly device payments if my device is lost, stolen or damaged?

    If your device is lost, stolen or damaged, you're still responsible for your monthly device payments until the agreement is paid in full.

    • If you have device protection on your device, you can file a claim with Asurion for a replacement device and continue with your monthly payment.
    • If the device has a defect and isn't physically damaged, it may be covered by manufacturer's warranty. Use our Troubleshooting Assistant to assess your issue.
    • You can pay off the remaining balance and then buy a new device on the device payment program.

     

  7. I lost my phone and suspended its service. How can I pay off the suspended phone so I can get a new one?

    You can pay off a device that has suspended service the same way you pay off any device that has a device payment balance.  

  8. If I voluntarily suspend service to my device, am I still required to pay the monthly installments?

    Yes. If you voluntarily suspend service to your device (with or without billing), you still receive a monthly statement with your device payment charges. The charges are due according to the payment schedule on your device payment agreement.

    If your line is suspended under our Military Service Policy, you won't be billed device payments during the military suspension (limit for military suspend is 3 years and 90 days) and your payments resume when you return from military service.

  9. What happens after I make my last device payment?

    When you pay off your device:

    • You continue paying your monthly costs for your talk, text and data plan, but you no longer have a device payment charge on your monthly bill.
    • Any monthly promotional credits you’re getting will stop.
    • The paid-off device is eligible to be upgraded to a new device. 

Device payment program billing and pricing

  1. What are the line access costs for devices on monthly payments if I have the MORE Everything Plan?

    Lines with an active device payment agreement on the MORE Everything Plan* get a credit on monthly access charges:

    • Active smartphone lines on MORE Everything Plans up to 4 GB, your monthly access charge is $25. However, it will show up on your bill as a $40 charge with an offsetting $15 credit.

    • Active smartphone lines using device payments on MORE Everything Plans 6 GB and higher, your monthly access charge is $15. However, it will show up on your bill as a $40 charge with an offsetting $25 credit.

    • Active basic phone lines using device payments on the MORE Everything Plan, your monthly access charge is $20. However, it will show up on your bill as a $30 charge with an offsetting $10 credit.

    *The MORE Everything plan can no longer be added to accounts.

  2. I just bought a new device with the device payment program. What will I see on my monthly bill?

    Your first bill after signing up for the device payment program might be higher than you expect because it could be prorated. For example, if you changed your plan when you upgraded, you may have plan charges and credits that went into effect the day you upgraded.

    Normally, your bill will show:

    • Your prior installment payment
    • The next installment charge
      Note: If you're on The MORE Everything Plan® on an active device payment agreement, you'll also see a monthly access offset credit for each qualifying smartphone or basic phone line.

    You can view your device payment plan charges and any credits you're getting:

    • On your bill: in the line level section under Monthly Charges and Equipment Charges.
    • In the Bill section of the My Verizon app or in the My Bill page in My Verizon, choose View Bill Details.
    •  

  3. Why am I being billed for the remaining balance of my device payment agreement?

    Your remaining balance may be billed to you for any of these reasons:

     

Device payment program and device upgrades

  1. Can I do a device upgrade when I'm on device payments?

    You can upgrade if you bought your device with device payments and any of these applies:

    Visit our Device Upgrade FAQ to learn more.

  2. What condition does my original device have to be in when doing an annual device upgrade or early device upgrade?

    When you do an annual upgrade or an early device upgrade (the former Edge Up program), the device you’re returning to us must be in good working condition and must meet these requirements or it will be rejected and sent back to you:

    • Device has a functioning battery
    • Device can power on and off
    • Device has an intact, functioning LCD screen and glass with no cracks or breaks
    • Device and charging port must be intact (not broken or charging port missing)
    • Device and connecting ports must be free of visible corrosion and water damage
    • If your previous device is an Apple® device with iOS 7 or later, you must disable Find My iPhone in the settings prior to sending it back

    For early device upgrades (the former Edge Up program) the device you return to us must also be 1 of these:

    • The same device purchased on your original device payment Agreement
    • A Verizon-issued Certified Like-New Replacement
    • A replacement device covered under a Verizon-approved device protection program offered by Verizon, Asurion, Apple or a Verizon-Approved Retailer
  3. How do I return my device when doing an annual device upgrade or early device upgrade?

    When you do an annual upgrade or an early device upgrade (the former Edge Up program) online, we’ll send you the new device along with a shipping label for the old device.

    You have 14 days to return the original device after receipt of the new device. To return your device:

    1. Turn off your device.
    2. Include the battery.
    3. Remove any accessories (e.g., chargers, SIM and SD cards).
    4. Use the return materials you were given to package your device, including the pre-paid shipping label.
    5. Keep a record of your tracking number for your reference.
    6. Drop it off at your post office or hand it to your mail carrier.

     

  4. How do I get a shipping label to return my old device?

    When you do an annual upgrade or an early device upgrade (the former Edge Up program) online, we’ll send you the new device along with a shipping label for the old device.

    If you need another return label, click the Chat with us button at the bottom right corner of this page to contact one of our representatives.

  5. What happens if I don't return my old device under an annual device upgrade or early device upgrade promotion?

    If you don't send back your device when doing an annual upgrade, the remaining balance of your original device payment agreement will be due on your next bill.

  6. Why was my device sent back to me?

    If your device was returned to you, it may have been for 1 of these reasons:

    • Not in good working condition
    • Received too late
    • Incorrect device

    A return explanation is included with every return device.

Buy One, Get One Promotions (BOGO)

  1. What is a Buy One, Get One promotion and how does it work?

    A Buy One, Get One promotion lets you buy 2 devices at a special price. You'll pay the monthly device payments on each device while receiving up to 24-monthly credits towards 1 line of service, depending on the promotion, for the full promotional credit.

    To be eligible you must purchase and activate 2 devices on device payment agreements.

    You'll receive up to 24 monthly device promotional bill credits, as long as both devices remain active and your account remains in good standing, which means:

    • Your account is current, and not past due
    • Your device payment agreements remains active
    • Wireless service associated with both phones remain active
  2. Do I need to do anything special to receive my credit?

    No, once you've purchased and activated 2 eligible devices on device payment agreements there's nothing else you need to do. Your monthly device promotional credits will start by your third bill after we have validated and set up the bill credits. On your third bill, as long as your account is in good standing, you'll receive device promotional credits for months 1, 2 and 3. You'll continue to receive credits every month as long as you continue to qualify for the device promotional credit.

  3. Do I need to pay the monthly device payments for both devices in order to receive my bill credits?

    Yes, you'll be billed your monthly device payments for both devices. On your third bill, as long as your account is in good standing, you'll receive device promotional credits for months 1, 2 and 3. You'll continue to receive credits toward your bill monthly as long as you continue to qualify for them.

  4. Will the device promotional credit continue if I transfer the service and device payments for the wireless number associated with the device for which I'm receiving credits?

    No, your mobile number and device payment agreement must remain active on your account for the full 24 months in order to receive all device promotional credits.

  5. Will my monthly device promotional credits continue if I suspend my service on the device for which I'm receiving credits?

    Yes, you'll still receive credits if you suspend your service. However, if you're in the military and you suspend your service due to military deployment, your credits will be suspended.

  6. What happens if I cancel my device payment agreements associated with my Buy One, Get One devices before I receive all my monthly device promotional credits?

    The device payment agreements for both devices must remain active in order to receive all 24 device promotional credits. If you deactivate either one or both of the agreements, the bill credits will be discontinued and you'll be required to pay the remaining balance of the device payment agreement for the deactivated device(s).

  7. Will I continue to receive my device promotional credit if I discontinue wireless service for the number associated with the device for which I'm receiving credit?

    No, your mobile number associated with the device you're receiving credits for must remain active for the full 24 months in order to receive all device promotional credits.

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