It’s Time To Apply For “Cramming” Refund For Customers Of Verizon Communications Inc. (VZ) And Sprint Corp (S)

For the subscribers of Verizon Communications Inc. (NYSE:VZ) and Sprint Corp (NYSE:S), the time has come to apply for ‘Cramming’ refund. However, it is applicable for those in the United States only. The deadline is fast approaching, i.e. December 31. Therefore, subscribers need to apply immediately to become eligible for the refund.

Bogus Fees For Services That Customers Never Ask

Verizon Communications Inc. (NYSE:VZ) and Sprint Corp (NYSE:S) earned the ire of the Trade Commission, as well as, the Federal Communications Commission in the past. That resulted in slapping of not only a fine on both the service providers but also forced to them to make a provision for big sums to refund eligible customers.

The word ‘cramming’ was nothing but charging the customers with bogus fees for services without the customers’ request for it. Such services included flirting tips or horoscope that was normally sent through text messages. Customers were charged $9.99 a month for such bogus services. However, most of the operators in the wireless segment are adapting such methodology prompting the two regulators to initiate action against Verizon Communications Inc. (NYSE:VZ) and Sprint Corp (NYSE:S).

Other Operators Also Faced Similar Charges

While giving the orders, the two regulators slapped a fine of $90 million to Verizon Communications Inc. (NYSE:VZ) whereas Sprint Corp (NYSE:S) was ordered to pay a fine of $68 million. Therefore, there were a total $158 million fines levied by the FCC. Of this, $120 million was marked for refunds to the two service providers’ customers.

However, it was not that only these two companies that were charged with the offense and were ordered to refund. The other two big service providers, AT&T Inc. (NYSE:T), as well as, T-Mobile Inc (NYSE:TMUS), have also faced the same music last year for similar practices. However, the deadline for the refunds in respect of these two firms has already expired.

Viraj Shah

Viraj Shah has completed M.Com (Finance) and is currently pursuing his CFP. He tracks US markets along with other global markets like India very closely. He is very passionate about stocks, real estate, and technology. He also believes that money can always be made in the market.

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