T-Mobile announced a new promotion on Wednesday targeting Verizon Wireless customers to move to its network.
T-Mobile is offering to pay the full balance of Verizon customers' phone lease — up to $1,000 — if they switch from Verizon.
The move is an effort by T-Mobile to continue its subscriber growth. The carrier added a higher-than-expected 914,000 subscribers during the first quarter, thanks to similar offerings that have lured customers.
T-Mobile said its new offer applies to customers who are signing up for a new T-Mobile One service line with device protection. T-Mobile One, the company's unlimited service, starts at $70 for one line. Device protection costs an additional $15 per month.
T-Mobile says customers who make the switch will receive a prepaid MasterCard within 15 days, and that customers will be able to keep their same phone number.
The promotion starts on May 31.