Verizon customers who were charged undisclosed administrative fees are eligible for payouts from a $100 million settlement. These fees, which were inadequately disclosed, ranged from 40 cents to $3.30 per month per line and increased over time.
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Verizon Settlement Payout Update
Verizon customers who were charged administrative fees without proper disclosure are now eligible to receive a payout as part of a $100 million settlement.
The plaintiffs claimed that Verizon did not adequately disclose these fees, which ranged from 40 cents a month per line to $3.30 a month per line, and increased over time
The settlement includes current and former Verizon customers in the United States who paid administrative charges or “telco recovery charges” between January 1, 2016, and November 8, 2023, based on their last known billing address.
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Verizon Settlement Payout Eligibility Criteria
While the deadline to claim your share of the Verizon settlement has passed (April 15, 2024), it’s helpful to understand the criteria for eligibility for who will receive the payout:
- Postpaid Wireless Customers Only: This settlement was exclusive to Verizon customers who had postpaid individual consumer wireless service accounts. Prepaid accounts and business accounts were not included.
- Administrative or Telco Recovery Charges Assessed Within Specified Dates: You must have incurred administrative fees or a combination of administrative and telco recovery charges between January 1, 2016, and November 8, 2023.
- U.S. Billing Address: You had to be a current or former individual consumer account holder in the United States based on your last known billing address with Verizon.
Verizon Settlement Payout Update Amount
While the claim window for the Verizon settlement closed on April 15, 2024, understanding the payout structure can be helpful for future reference.
- Maximum Potential Payout: Each eligible customer who submitted a claim could receive up to $100.
- Actual Payout Depends on Two Factors:
- Length of Service: The longer you were a Verizon customer and paid the administrative fees during the relevant period (January 1, 2016 – November 8, 2023), the higher your payout would be.
- The minimum payout was expected to be around $15, with an additional $1 for each month you were charged the fees.
- Number of Valid Claims: The total settlement fund is $100 million. The final payout amount per person will be determined by dividing the total settlement amount by the number of valid claims submitted.
- With more claims, the individual payout amount will decrease.
Distribution Method:
- Once Approved: After the court grants final approval of the settlement and any appeals are resolved, the distribution of payments will commence.
- Estimated Timeline: There is no official announcement regarding the exact payout date. However, based on similar class-action settlements, it could occur sometime in the third quarter of 2024 (July-September).
- Payment Method Likely Direct Deposit or Check: The specific distribution method hasn’t been confirmed, but it’s likely to be either direct deposit (if you provided your banking information during the claim process) or a mailed check.
Checking the status of Verizon Settlement Payout
To check the status of your Verizon settlement payout, you can:
- Monitor the official settlement website, verizonadministrativechargesettlement.com, for updates on the approval and distribution of payments
- Stay informed through direct communication, as eligible claimants will likely receive notifications via email or mail once the settlement is finalised.
- Keep an eye on news outlets for any updates regarding the progress of the settlement approval and payment distribution.
Factors Affecting Verizon Settlement Payout Amount
There are two main factors that affect the amount of money you could receive from the Verizon settlement are:
Length of Service and Fees Paid:
- This is the primary factor determining your payout. The longer you were a Verizon customer with a postpaid plan and were charged the administrative or administrative and telco recovery fees between January 1, 2016, and November 8, 2023, the higher your payout will be.
- Minimum Payout: There was expected to be a minimum payout of around $15.
- Additional Per Month: For each month you were charged the fees, you would have received an additional $1 on top of the minimum.
Number of Valid Claims:
- The total settlement fund is capped at $100 million. The final payout amount per person is determined by dividing this total amount by the number of valid claims submitted.
- More Claims = Lower Individual Payout: If a large number of eligible customers submitted claims, the individual payout amount for each person will be lower.
- Conversely, with fewer claims, the individual payout could be higher.
- Account Type: Only postpaid individual consumer accounts were eligible. Prepaid and business accounts were not included.
- Location: You had to be a U.S. customer based on your billing address.
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