Verizon Axes Plans for $2 Fee

NEW YORK (MainStreet) —  Verizon Wireless has balked on its plans to  institute a $2 convenience charge when customers pay individual cellphone bills online or over the telephone.

“At Verizon, we take great care to listen to our customers,” Dan Mead, president and CEO of Verizon Wireless (Stock Quote: VZ) said in a written statement on Friday afternoon. “Based on their input, we believe the best path forward is to encourage customers to take advantage of the best and most efficient options, eliminating the need to institute the fee at this time.”

The fee, announced Thursday, incurred immediate outrage with a petition asking the provider to eliminate the charge garnering more than 50,000 signatures in less than two days.

Verizon initially said it was instituting the fee to “help allow us to continue to support these single bill payment options in these channels.”

The fee’s cancellation marks another big win for consumers in 2011. A similar initiative got Bank of America (Stock Quote: BAC) to eliminate plans for a $5 debit card fee back in November.

—Jeanine Skowronski is staff reporter for MainStreet. You can reach her by email at Skowronski.jeanine@thestreet.com, or follow her on Twitter at @JeanineSko.

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