You submit that final bill to your new carrier. They then reimburse you—usually via a prepaid Mastercard or bill credits —within 6 to 8 weeks. Three Things to Check Before You Switch

You typically need to trade in your current smartphone to the new carrier.

The good news? Many major carriers are so eager for your business that they will literally . Here is how you can make the switch without breaking the bank. How the "Contract Buyout" Works