Hello I was told a different time or period (3months) for the deposit to be refunded to me. The sales representative at the time was a guy named Shakir. I also have more information about the contract and would like talk more about the issue, please and thank you.
The security deposit is held on your account for 12 months after the activation. On the first billing cycle after the 12-month period, the system determines the refund eligibility based on your account history.
If your account is eligible for a refund, the deposit will be released towards your account balance. If ever your account is not eligible, a re-evaluation is processed on a monthly basis until the deposit can be released.
The security deposit is also automatically released in the following scenarios:
Hope this helps!
If you need more info on this, specifically based on your account, don't hesitate to contact us here.
I have paid 200$ last year as a security deposit for my phone plan and they said if every bill is paid on time, it'll be retuned in a year.
I wanted to know when will I get it back and whether I can choose to have it deposited into my bank account instead of credit for bill payment.
The security deposit is not used towards the cost of the device. If you decide to pay off your Fido Payment Program ahead of time, it is charged towards your invoice. The security deposit is only released if the account is completed deactivated or if it's been held for 12 months at which point a automated re-evaluation can determine that the account no longer requires a security deposit.
I hope this helps clarify things a little.