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When will I get my deposit back?
FGAITAN
Newbie

Verizon took $250 from my bank account to be used as a deposit. I remember giving my debit card information when I made the request to get FIOS but I did not give any permission for Verizon to withdraw $250 to be used as a deposit.  My credit score is over 800 and I have had a Verizon cell phone account for over two years with no late payments, so I have no idea why they needed a deposit.

I called and chatted with numerous representatives and nobody could tell me why Verizon took that money from my account. Because of this, I decided to cancel my service.   FIOS was installed on 2/13/17 and I cancelled it on 2/16/2017.   I returned my equipment on a Verizon store on 2/18/17 (I have the receipt).

When will I get my deposit back and why is there a bill for the amount of $265 for March when I cancelled my account more than a week ago? I have spoken to several representatives over the phone and online and I keep hearing different things.    “You will get your money back in 3, 4 days”, “You will get your money back in two to three weeks”, “and “You will get your money back in 3 or 4 months”.  It is ridiculous, nobody seems to know.  I just want to pay for the 3 days of service that I used and to get my $250 back!

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Re: When will I get my deposit back?
CRobGauth
Super User
Super User

Its not uncommon for a service provider to ask for a deposit when starting service with them.

Verizon wireless is separate from FiOS.

BTW, this is mainly a peer to peer support forum.

Not sure one of us can say for sure when you will get your deposit back.

Re: When will I get my deposit back?
jonjones1
Legend

@FGAITAN wrote:

Verizon took $250 from my bank account to be used as a deposit. I remember giving my debit card information when I made the request to get FIOS but I did not give any permission for Verizon to withdraw $250 to be used as a deposit.  My credit score is over 800 and I have had a Verizon cell phone account for over two years with no late payments, so I have no idea why they needed a deposit.

I called and chatted with numerous representatives and nobody could tell me why Verizon took that money from my account. Because of this, I decided to cancel my service.   FIOS was installed on 2/13/17 and I cancelled it on 2/16/2017.   I returned my equipment on a Verizon store on 2/18/17 (I have the receipt).

When will I get my deposit back and why is there a bill for the amount of $265 for March when I cancelled my account more than a week ago? I have spoken to several representatives over the phone and online and I keep hearing different things.    “You will get your money back in 3, 4 days”, “You will get your money back in two to three weeks”, “and “You will get your money back in 3 or 4 months”.  It is ridiculous, nobody seems to know.  I just want to pay for the 3 days of service that I used and to get my $250 back!


I thought I answered this already. I think the threads are recycling.

if you had a fico score at 800 or above there would be no deposit needed. So I would check that score again.

in any case Verizon's policy has been to charge a sliding deposit requirement when they deem it necessary. The deposit is returned after 12 months of on time payments. If even one payment is late or returned then the 12 months starts over again.

however on quitting service it takes about 8 weeks to get that money back. If you have changed your address or it was lost in the mails the deposit check may have been lost and you must call 1-800-VERIZON and ask them what happened to it.

good luck