Do you feel like your Verizon phone is holding you hostage with its monthly payments? Tired of that extra charge on your bill? Well, guess what – you don't have to wait until the very last payment! Paying off your Verizon phone early is a fantastic way to gain financial freedom, potentially save money, and open up opportunities for upgrades or switching carriers.
This comprehensive guide will walk you through every step of the process, ensuring a smooth and hassle-free experience. Let's get started, shall we?
Understanding Your Verizon Device Payment Agreement
Before you dive into paying off your phone, it's crucial to understand the terms of your current device payment agreement. Most Verizon phones are financed through an installment plan, meaning you pay for the device over a set period (often 24 or 36 months) with 0% APR. There are no finance charges associated with these payments, which is a big plus!
Key Things to Know About Your Device Payment:
No Early Termination Fees: Unlike older contract models, Verizon's device payment agreements typically do not have early termination fees. This means you won't be penalized for paying off your phone ahead of schedule.
Monthly Credits (If Applicable): If you received a promotional discount when you purchased your phone (e.g., a bill credit for trading in an old device), be aware that paying off your phone early might cause these monthly credits to stop. This is an important factor to consider in your decision.
Device Unlocking: Verizon generally unlocks phones automatically after 60 days of active service. Paying off your device early doesn't change this policy.
Step 1: Discover Your Device Payoff Balance (Engage Here!)
Alright, so you're ready to break free from those monthly phone payments! But how much do you actually owe? This is the very first and most important step. Don't worry, Verizon makes it pretty easy to find this information.
There are a couple of primary ways to check your remaining balance:
Option A: The My Verizon App (Recommended for Speed and Convenience)
The My Verizon app is your go-to resource for managing almost every aspect of your Verizon account, including your device payment plan.
Download and Log In: If you haven't already, download the My Verizon app from your device's app store (Google Play for Android, Apple App Store for iOS). Then, log in using your My Verizon User ID and password.
Tip: If you've forgotten your login details, there are "Forgot User ID" and "Forgot Password" options on the login screen.
Navigate to Devices: Once logged in, look for a section labeled "Devices" or "Mobile" (depending on your app version).
Select Your Phone: You'll see a list of all devices on your account. Tap on the specific phone you wish to pay off.
Find Device Payment Agreement: Within the device details, you should see a section titled "Device Payment Agreement" or similar. Tap on it.
View Payoff Information: Here, you'll find details like your remaining balance, the number of monthly payments left, the total amount paid, and the start and end dates of your agreement. Look for an option that says "Pay off Device" – this will confirm the exact amount needed for a full payoff.
Option B: The My Verizon Website
Prefer a larger screen or don't have the app handy? The My Verizon website offers the same functionality.
Go to Verizon's Website: Open your web browser and navigate to
vzw.com/myverizon Sign In: Just like the app, sign in with your My Verizon User ID and password.
Access Your Bill/Account: From the My Verizon homepage, look for tabs or links like "Account" or "Bill." Click on the relevant one.
Find Device Payment Details: You'll typically find an overview of your bill. Look for a section that details your device payments. It might be under "Equipment" or "Devices."
Identify Payoff Option: Similar to the app, you should find an option to view your device payment agreement or to "Pay off Device" to see the remaining balance.
Option C: Calling Verizon Customer Service
If you're having trouble navigating the app or website, or simply prefer to speak with someone, you can call Verizon Customer Service.
Dial #PMT or 800-922-0204: From your Verizon mobile phone, you can dial #PMT for automated payment options. Alternatively, dial 800-922-0204 from any phone to reach customer service.
Be Prepared: Have your 14-digit Verizon account number and your Account PIN ready for verification.
Request Payoff Balance: Inform the automated system or the customer service representative that you wish to inquire about paying off your device early and get the exact payoff amount.
Note: There might be a $10 Agent Assistance fee for payments made via a Customer Service Representative, so using the app or website is often more cost-effective.
Step 2: Choose Your Payment Method
Once you know your exact payoff amount, it's time to select how you want to make the payment. Verizon offers several convenient options.
Sub-heading: Online Payment Methods (Most Popular)
Checking Account (Recommended): This is often the most straightforward and secure method. You'll need your bank's routing number and your checking account number.
Debit Card: Most major debit cards (Visa, Mastercard, American Express, Discover) are accepted.
Credit Card: You can use a major credit card. Remember that if you use a credit card, you're essentially transferring the debt from Verizon to your credit card, potentially incurring interest if not paid off quickly.
Verizon Wireless Gift Card: If you have a Verizon Wireless gift card, you can apply its value towards your device payoff.
Sub-heading: Other Payment Methods
In-Person at a Verizon Store: You can visit any corporate Verizon store or authorized retailer. They accept cash, check, credit/debit cards, or Verizon gift cards.
Always confirm store hours before visiting.
Mail: You can mail a check or money order. You'll need your 14-digit Verizon account number and the correct Verizon remittance address for your ZIP code. You can find this address on your paper bill or by viewing the PDF version of your bill in My Verizon.
Third-Party Payment Locations (e.g., CheckFreePay, Western Union): Some third-party locations may accept Verizon payments, but they often charge a convenience fee (up to $3).
Step 3: Execute the Payoff!
Now for the exciting part – making that final payment! The steps will vary slightly depending on your chosen method.
Sub-heading: Paying Off Through the My Verizon App (Step-by-Step)
This is generally the quickest and easiest way.
Open My Verizon App: Launch the app on your smartphone.
Navigate to Pay Off Device: Follow the same path as in Step 1, Option A: Home/Mobile Tab > Devices > Tap your specific phone > Device Payment Agreement > "Pay off Device."
Review Information: The app will display your remaining balance. Carefully review this information to ensure it's the full payoff amount.
Confirm Payoff: Tap "Pay off device" again to proceed.
Review "Here's what you need to know": Verizon will likely present a summary of what happens when you pay off the device (e.g., promotional credits stopping). Read this carefully and tap "Continue."
Select Payment Type: Choose your preferred payment method (checking account, debit card, credit card, etc.). If you have a saved method, select it. Otherwise, tap "Add method" and enter the required details.
Enter Security Code/Confirm: For credit/debit cards, enter the 3-digit security code (CVV). For checking accounts, you might be asked to confirm details. Tap "Continue."
Review Payment Details: A final summary of your payment will appear. Double-check all the details – amount, payment method, etc.
Confirm Payment: Tap "Confirm" to submit your payment.
Confirmation: You should see a "Congrats! Your device has been paid off" screen or a similar confirmation. Tap "Got it."
Sub-heading: Paying Off Through the My Verizon Website (Step-by-Step)
Log in to My Verizon: Go to
vzw.com/myverizon Go to Bill/Account Section: Click on the "Account" or "Bill" section from the homepage.
Find Device Payment: Locate your device payment details. There should be an option to "Pay off Device" or "Manage" next to the specific device.
Select Pay in Full: When prompted, choose the option to "Pay in full" for the device.
Choose Payment Method: Select your desired payment method (checking account, credit/debit card, etc.). You can use a saved method or add a new one.
Enter Payment Information: Provide all necessary details for your chosen payment method.
Review and Confirm: Review the payment summary carefully. Make sure the amount is correct.
Submit Payment: Click "Confirm" or "Submit" to complete the transaction.
Confirmation: Look for a confirmation message or email indicating your payment was successful.
Sub-heading: Paying Off In-Person at a Verizon Store
Locate a Store: Use the Verizon store locator on their website to find the nearest corporate or authorized retail store.
Gather Information: Bring your Verizon account number and a valid photo ID.
Inform Staff: Tell the store representative that you wish to pay off your device payment agreement in full.
Make Payment: Present your chosen payment method (cash, check, card, gift card).
Get Receipt: Always request and keep a receipt for your records.
Step 4: Verify Your Payoff
After making the payment, it's a good idea to verify that the payoff has been successfully processed and your device payment agreement has been closed.
Check My Verizon App/Website: Wait a few hours or until the next business day, then log back into the My Verizon app or website.
Review Device Details: Go back to the "Devices" section and check the specific phone you paid off. The "Device Payment Agreement" section should now indicate a $0 balance or show that the agreement is complete.
Check Your Next Bill: On your next monthly bill, you should no longer see a device payment charge for that particular phone.
What Happens Next?
Congratulations! You've successfully paid off your Verizon phone. Here's what this means for you:
Lower Monthly Bill: Your monthly Verizon bill will now be lower as the device payment charge is removed.
Freedom to Upgrade: Your phone is now fully yours, and you're eligible for a new device upgrade through Verizon's programs (if you choose to stay with them).
Unlocked Device: Your device should be unlocked after 60 days of active service, regardless of when you paid it off. This allows you to use it with other compatible carriers if you decide to switch.
Resale Value: Since the phone is paid off, you have full ownership and can sell it, trade it in, or give it away without any outstanding financial obligations to Verizon.
10 Related FAQ Questions
How to check my Verizon phone's remaining balance?
You can check your remaining balance through the My Verizon app (under Devices > your phone > Device Payment Agreement) or on the My Verizon website by logging in and navigating to your bill details.
How to avoid a fee when paying off my Verizon phone?
To avoid an Agent Assistance Fee, pay off your phone online through the My Verizon app or website. Payments made over the phone with a customer service representative may incur a $10 fee.
How to tell if my Verizon phone is eligible for early payoff?
All Verizon device payment agreements are eligible for early payoff at any time without penalty. You simply pay the remaining balance in full.
How to pay off part of my Verizon phone balance early?
Verizon typically requires you to pay off the entire remaining device payment agreement balance in one go. There isn't an option to make partial extra payments towards the principal beyond your regular monthly installment.
How to know if paying off my Verizon phone early is worth it?
It's worth it if you want a lower monthly bill, are looking to upgrade early, or plan to switch carriers. However, consider if you're receiving any monthly promotional credits, as these usually stop when the device is paid off.
How to use a Verizon Wireless Gift Card for my phone payoff?
You can apply a Verizon Wireless Gift Card as a payment method when paying off your device through the My Verizon app or website, or in person at a Verizon store.
How to get my Verizon phone unlocked after paying it off?
Verizon automatically unlocks devices after 60 days of active service. Paying off your device early does not change this policy; it's generally unlocked by default after the 60-day period.
How to find my Verizon account number for payment?
Your 14-digit Verizon account number can be found on your monthly bill (paper or PDF version in My Verizon) or within the My Verizon app/website under your account details.
How to pay off my Verizon phone if I'm no longer a Verizon customer?
If you've disconnected your service, you can still sign in to your My Verizon account or use the Verizon Quick & Easy Bill Payment website (https://www.google.com/search?q=ebillpay.verizonwireless.com) to make your final device payment. A final invoice will also be sent via mail.
How to ensure my device payment agreement is officially closed after payoff?
After paying, log back into the My Verizon app or website after a few hours or the next business day. Navigate to your device details; the "Device Payment Agreement" section should reflect a $0 balance and show the agreement as completed. You can also confirm on your next bill.