Security Deposit Refund FAQs

General Information

  1. What is a security deposit refund?

    The security deposit refund is the refund of the security deposit you paid Verizon Wireless at the time you established service, which will be applied to your account upon satisfactory payment history or upon disconnection of service. Verizon Wireless will issue a security deposit refund check for any remaining credit after any outstanding balance owed on the account is satisfied.

  2. When will I receive my security deposit refund?

    You're eligible to receive your security deposit back at the end of 1 year of uninterrupted service or upon termination of your service. Uninterrupted service means you have kept your account in good standing and paid your bill in a timely manner for one year.

  3. Will I still receive my security deposit refund if my service is interrupted prior to the one year?

    If you don't maintain uninterrupted service for one year, we'll review your account every 90 days to determine when satisfactory payment status has been met.

  4. Will I earn interest on my security deposit?

    We'll pay simple interest on any deposit at the rate the law requires. If you are disconnected at any time during the first year for lack of payment, you forfeit any interest accrued during that time frame.

  5. How will my security deposit be refunded?

    Your security deposit will be refunded in the form of a credit to your account. If the applied refund creates a credit, and you don't owe any other amounts to Verizon Wireless, you will receive a check for that credit balance.

  6. If I terminate my service before my security deposit is refunded, will I still receive the security deposit refund?

    If you terminate your service, but have not paid your final bill, the deposit will be applied to your account, and you'll receive a check for any remaining funds. If your service is terminated after the initial 14-day return and exchange period but before the end of your minimum term, your deposit will be applied against the early termination fee in addition to any outstanding balance before a security deposit refund check is processed.

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