T-Mobile will pay off the rest of your Verizon Pixel or Pixel XL if you switch networks

T-Mobile is aiming its promotional weapons squarely at rival carrier Verizon Wireless once again. Today, T-Mobile revealed that, starting on May 31, Verizon Google Pixel or Pixel XL owners can switch to T-Mobile and keep both their phone and their phone number. The carrier will also pay off the rest of the owner’s device balance for those phones.

The good news is that you don’t need to actually trade in an older phone to get this deal. If you own a Pixel or Pixel XL and bought it from Verizon on their monthly payment plan, you can bring that phone to your local T-Mobile store starting May 31. T-Mobile will port your old number to its network, under the T-Mobile ONE unlimited data plan, and it will put in a new SIM card inside the Pixel or Pixel XL to complete the transfer. T-Mobile will then send customers a digital prepaid MasterCard, with the amount that they still owe Verizon for the Pixel or Pixel XL, within 15 days.

You also have the option to have T-Mobile pay off your early termination fee from Verizon with this promotion. By the way, T-Mobile is also offering this deal for Apple’s iPhone SE, 6s, 6s Plus, 7, and 7 Plus owners on Verizon.

If you are thinking there are some catches to this promotion, you would be correct. If you sign up for this deal, you also have to sign up for T-Mobile’s recently launched Premium Device Protection Plus phone insurance plan, which will add $15 a month to your bill. Also, you must have used the Pixel or Pixel XL with Verizon for at least 60 days and have an account in good standing with the carrier.

If you own a phone and use AT&T or Sprint, T-Mobile will launch a similar promotion on May 31 as well. It will offer those folks a way to pay off their current phone, or their early termination fee, if they finance a new device with T-Mobile. As with the Verizon deal, no trade-in of the old phone is required for AT&T and Sprint customers. All of these offers are going to be available for a “limited time” but no specific end date was mentioned.

T-Mobile also has another offer that begins on May 25. Current customers who have at least two T-Mobile ONE voice lines on their account can add two more lines for the price of just one for a limited time. The discount will be offered via bill credits. Finally, T-Mobile revealed that it is raising the limit on its monthly data “de-prioritization” use for customers, where speeds might slow down for the few customers who reach that limit every month. Previously, the limit was 30 GB of data a month, but now T-Mobile has boosted that amount to 32 GB.

T-Mobile says this is just the first of three big promotional announcements that it plans to make for the summer months, so you might want to stay tuned to see what it has planned next.