Verizon is offering you $240 to sign up and sign up for its new unlimited plan

Hope you want to stay on this plan for a year

With inflation still high, you may be looking to reduce your cell phone bill. We also have. But the good news from Verizon today is that it’s come out with a new plan to help you do just that. It’s even better if you and 11 of your closest friends and family quit another carrier because the company is willing to pay you big bucks to make the jump.

The new Welcome Unlimited plan offers customers unlimited calls, texts and data. It will cost $65 per month on a single line, $110 on two lines ($55 per line), $120 for three or four lines ($40 and $30 per line, respectively), and $25 per line per month with five or more lines on one account with auto-pay and e-billing — if you turn both features off, you’ll pay an extra $10 per month. Taxes and fees are not included.

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Users can access the 5G Nationwide network with this plan, but not the 5G Ultra Wideband (millimeter wave) network. They can also roam with full, unlimited service in Canada and Mexico, though data is limited to 2G after 512MB of daily use. If network traffic becomes too heavy, policyholders may experience slower speeds.

Access to the hotspot is not included in this plan; a key difference here since Verizon updated its 5G Start plan — what was previously its cheapest unlimited postpaid plan at $140 per month for four lines — with 5GB hotspot in June.

The company attracts network switchers who can bring their device by offering a $240 e-gift card (we’re for each line transferred with a cap of 12 per account. That’s a whopping $2,880 if you can find one way to get you a dozen people with working devices who all want to join Big Red on this plan. Make sure you have Verizon’s compatibility checker handy.

The biggest issues with this promotion are all time related. Gift cards will be issued 45 days after device activation and while the full balance can be used afterward, Verizon requires users to keep their service active for at least 12 months or they will be charged the gift card value.

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