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Here's What Verizon Is Charging

As the newest player in the iPhone service provider business here in the United States, Verizon's iPhone 4 service plans are only slightly different from what AT&T offers. The biggest difference is that Verizon still offers an unlimited data service plan for a flat fee of $29.99 per month (at least for a limited time), or a 15MB plan for $15 per month. If you want your iPhone to be able to serve as a Wi-Fi Hotspot for other devices, you'll need to upgrade to a plan that includes unlimited data usage on the iPhone and 2GB per month as a 3G Mobile Hotspot for $49.99 per month.

As for the available voice plans from Verizon, what's offered is comparable with AT&T Wireless, starting with a 450-minute plan for $39.99 per month (additional minutes cost 45 cents), followed by a 900-minute plan for $59.99 (additional minutes cost 40 cents), and an unlimited voice plan for $69.99.

For text messaging, Verizon has announced a $5 plan that includes 250 messages (additional messages cost 10 cents each), a $10 per month plan that includes 500 messages (additional messages cost 10 cents each), and a $20 per month plan that includes unlimited text messages.

Both AT&T Wireless and Verizon also offer Family Plans, which allow family members to share minutes and a data plan.

What If You Don't Want a Two-Year Service Contract?

Both AT&T Wireless and Verizon will allow you to enter into a month-to-month contract for the iPhone 4; however, you will need to purchase a brand new iPhone 4 at the full retail price of $599-$649.99 for the 16GB model, or $699-$749.99 for the 32GB model (depending on which carrier the phone is compatible with).

Switching Between AT&T and Verizon

Unless you're willing to pay the early-termination fee on your two-year service contract (up to $350), you'll need to wait for your current service plan to expire before you can switch service carriers (from AT&T Wireless to Verizon or vice versa).

If you do opt to switch companies, you can keep your existing cell phone number. However, you will need to purchase a brand-new iPhone, as the iPhones offered by the two service providers are configured differently and are not compatible.

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