Verizon is giving you $240 to join and sign up for its newest unlimited plan

With inflation still being as steep as it is, you may be looking to lighten up on your cellphone bill.We have, too. But the good news out of Verizon today is that it’s 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 are switching from another carrier, because the company is willing to pay you big bucks to make the jump.

The new Welcome Unlimited planoffers customers unlimited talk, text, and data. It’ll 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 autopay and e-billing on — 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 hop onto the 5G Nationwide network with this plan, but not the 5G Ultra Wideband (millimeter wave) grid. They also can roam with full, unlimited service in Canada and Mexico, though data is restricted to 2G after 512MB of daily use. If network traffic gets too heavy, planholders may see their speeds slowed.

Not included in this plan is hotspot access; a key difference here since Verizon juiced its 5G Start plan — what was formerly its cheapest unlimited postpaid plan at $140 per month for four lines — with 5GB of hotspot back in June.

A T-Mobile coverage map on a smartphone.

The company is enticing network switchers who can bring their device over by offering a $240 e-gift card for every line ported over with a cap of 12 per account. That’s a whopping $2,880 if it’s possible to find a way to gather yourself a dozen people with workable devices who all want to join Big Red on this one plan. Definitely make sure you’ve got Verizon’scompatibility checkerhandy.

The biggest catches with this promotion are all about time. Gift cards will dispensed 45 days after device activation and while the full balance can be used thereafter, Verizon requires users to keep their service active for at least 12 months or else they’ll be charged back the value of the gift card.

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