Verizon will soon hike the prices of its wireless bills for the first time in two years. Bloomberg reports that the wireless carrier is increasing administrative charges on phone bills by $1.35 per voice line starting in June. No matter which plan you have, your Verizon bill is going up. Verizon previously increased the fee from $1.23 to $1.78 per line in August 2019. The new Verizon Wireless Administrative Charge will be $3.13 per line every month.
Your Verizon bill is about to go up
Verizon is not sparing any of its business customers either. According to the report, those customers will be forced to pay a new “economic adjustment charge” starting on June 16th. Data plans for mobile phones will increase by $2.20 a month while basic service plans will go up by $0.98. Verizon started informing customers about these changes on Monday and has also been reaching out to larger corporate clients in recent days.
As Bloomberg notes, Verizon’s fee hike comes less than two weeks after AT&T raised prices on its wireless plans. Prices increased by $6 for single-line customers and $12 for customers on family plans. These higher prices only applied to older plans, though, while every Verizon customer will feel the effects of the updated administrative charges.
“We’re all feeling the pressure and we’ve been in the process of deciding how much of that pressure we can share with our clients,” Tami Erwin, the Executive Vice President and CEO of Verizon Business explained in a recent interview prior to the price hike.
Like many companies, Verizon is using the economy as an excuse to push price hikes. Now, consumers that are already feeling the effects of inflation everywhere else have one more price hike to contend with. This might be a good time to check out other plans.