I recently switched my phone plan to a 2 year contract + $20 monthly fees for those 2 years for an upgraded phone. After reading about the Fido Payment Program, I interpreted it as paying the extra $20 monthly for 2 years to "pay off the phone". This means in total, $20/month x 24months = $480. Since I got the phone on a deal, this $480 (+tax etc) is much lower than the number listed under "Device Balance" on my Fido App. If I wanted to pay off the phone in a lump sum so that I only have to pay the base monthly plan price, would I be paying ~$480 or the higher cost listed in my "Device Balance"? Thanks.
The Fido Payment Program simply allows you to finance the phone over 24 months at 0% interest rate. The financing amount is billed on top of your monthly services fee.
To clarify, it takes the full price of the phone + taxes and then spreads the whole amount over 24 months. Once the agreement ends, you only pay the plan. That said, certain phones come with a bill credit that is applied on the plan. So, in that case, the bill credit is a discount on the monthly service charges before tax.
We would need to access your account to see what kind of deal you received to be honest. However, the amount would most likely be the one you would see under ''Device Balance''. To be 100% sure though, you can take a look at the financing amount left on the phone via your fido.ca account. You can also contact us through our customer care channels, or we can send you a PM right here!