T-Mobile has been absolutely torching wireless rivals over the last couple of years but Verizon isn’t about to take it laying down anymore. Verizon on Monday unveiled a new “no regrets” promotion where it will give you up to $650 so you can pay off either the rest of your wireless contract or the remaining device payments you owe to your current carrier.

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“Making the switch and getting up to $650 per line is simple: when you port your number to Verizon from another carrier, purchase a 4G LTE smartphone with a new device payment activation and trade-in your existing device from your previous provider,” Verizon explains. “You’ll get up to $650 on a prepaid card for the installment plan balance less the device trade-in value (or up to a $350 prepaid card for early termination fees less the device trade-in value). Your trade-in must be in good working condition and be worth more than $0, and you must keep the new line active for a minimum of six months.”

Verizon will also give customers who switch from other carriers an extra 2GB of data per month for however long they stay with Verizon.

T-Mobile pioneered paying off rivals’ early termination fees to get customers to switch and other carriers have since followed suit. Verizon is pitching its bid as a way for customers who made the “mistake” of signing up with a lesser wireless network to see the error of their ways by switching back to Big Red.

To learn more about Verizon’s offer, check out its official news release at this link.

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